Stop the Presses! iTunes/PayPal Hacked. Oh, Wait. It was Phishing. No, Really

This is one of those news stories I’m glad I sat on to see what developed.

It started with TechCrunch breathlessly announcing:

Fraudsters Drain PayPal Accounts Through iTunes

(cue silent movie villian music) Oh no! That’s terrible! What could possibly happen next? And, yes, kids, things did get worse, much worse. PC World screamed:

Apple Can’t Stop Ongoing ITunes Charge Scam

Fortunately, the digging continued and Computerworld’s Gregg Kelzer let us know that:

Phishers point scam at Apple’s iTunes

That’s right. While terrible and a significant problem for people who were affected, this was a the result of phishing scam similar to the phishing emails you’ve probably seen yourself announcing that something is wrong with your “insert name of large bank here” and that you should click on this link to provide the bank with information about your account.

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