The Chinese auction site TaoBao currently hosts for sale about 50,000 iTunes accounts linked to stolen credit cards, according to a BBC article. The listings even tell buyers they can get cheap downloads through the accounts, but they will only have about 12 hours to do so after purchase.
China’s Global Times newspaper first reported on the auctions. One sell told the paper: “Of course these accounts are hacked, otherwise how could they be so cheap?”
TaoBao, which is China’s equivalent to eBay and which has over 200 million users, said in a statement: “We take all reasonable and necessary measures to protect the rights of consumers who use Taobao, of our sellers and of third-parties. Until we receive a valid takedown request, we cannot take action.”