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Hacked iTunes Store Gift Cards: Potentially a Major Thread for Apple Store

By linathael. Original by Lionel - 11/03/2009 21:13:42 CET - Category: iPod - Source: Smoking Apple
chinese hackers have cracked the algorithm used by Apple to generate its iTunes Store gift cards and are currently selling for 2.6 USD a a gift card worth 200 USD!

It could be a major thread for Apple and its economic model, and the company is probably already working hard to find a solution or to identify fake gift cards. If some websites have been prompt to notify this information, it seems to be currently limited to the chinese market. Indeed, you need to have a chinese bank account. You can use alipay, a chinese version of paypal, however it needs a chinese bank account to be created too. Last but not least, you need to speak chinese or have a friend able to.
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