iTunes Accounts Linked to PayPal Suffering from Security Hole [Updated]

When you wake up in the morning, you don't want to start your day with some bad news. That's completely understandable. One of the worst ways to start your day off, is to find out that your PayPal account has just been utilized, without your consent, to spend hundreds, if not thousands of dollars. That just leads to a bad week. Unfortunately, that's what's been happening to iTunes customers out there in the world.

According to TechCrunch, after doing some digging of their own, a group of scammers out there in the wild have managed to nab iTunes accounts linked to PayPal, and charge thousands of dollars after doing so. One unlucky customer, named Joey Bruce, was actually charged $4,700, but managed to get in touch with his bank before the funds were disbursed. When he got in touch with PayPal security, he was told that even more iTunes-linked accounts had been breached.

Other customers weren't so lucky. More and more users are talking about the issue. Ranging from managing to save their cash, or having it returned to them by their banks or PayPal, to still others having their entire bank accounts drained by the digital thieves. It is obvious that PayPal is more than aware of the situation, but according to them, the problem is stemming from Apple's iTunes. We'll have to wait and see what happens with this.

[Update] Seems like Apple is beginning to open up to a few folks out there, and speaking about this new report. According to John Paczkowski over at All Things D, it looks like Apple is saying that there's nothing much to these "new" reports. Actually, Apple is saying that these folks who are having plenty of money hijacked from their accounts, are suffering from a major phishing scam that's been going around for awhile now. In fact, Apple says that iTunes hasn't been compromised, and that they aren't aware of any increase in fraudulent schemes. So, does that put an end to that?

[via TechCrunch; update via All Things D]