Users in China are selling something new on Chinese auction website Taobao: hacked iTunes accounts.
Paying as little as $5, buyers can buy these hacked iTunes accounts and use the linked credit card to purchase content from iTunes without any more money, leaving the legitimate iTunes account owner with a big credit card bill.
The sellers advice buyers to use the account within 12 hours of purchase, in case the original owners find out about the hack and take actions.
So far, Taobao has not taken any actions to take down these auctions, citing that it has not received any request from Apple to take any action. Apple has also not stated that they would take any action.
It is suspected that these accounts were compromised via phishing scams, where iTunes users were presented with fake login screens that captured their real account usernames/passwords.