50,000 hacked iTunes user accounts are for sale on China's largest online auction site Taobao (think eBay), providing illegal access to credit card details for music and TV downloads on Apple's iTunes Store. Several shops were selling iTunes accounts priced anywhere from 1 to 200 yuan ($0.15 to $30.18), promising downloads of songs, games, movies, and other products worth $30, according to BBC.
Thousands of accounts have already been sold over the past several months. The sold accounts are either hacked foreign iTunes accounts with credit card numbers on file, or new ones created with details of stolen overseas credit cards. Those who bought hacked accounts were encouraged to use them for only 24 hours, presumably as their real owners would catch on to the fraud and cancel their credit cards.
Taobao says it bears no legal liability for the items sold, it does not have to vouch for their authenticity, and it is not required to remove the listings until it receives direct complaints about the sales. "We take all reasonable and necessary measures to protect the rights of consumers who use Taobao, of our sellers and of third-parties," a Taobao spokesperson said in a statement. "Until we receive a valid takedown request, we cannot take action. At this time, we have not received any information from Apple or any other principal related to the iTunes accounts indicating that these products either violate our listing rules or infringe on the IP of others."