Markets in everything China fact of the day

by on January 7, 2011 at 10:51 am in Economics, Law, Music | Permalink

A Chinese online store is selling hacked, illegal iTunes accounts tied to active credit cards, offering $200 worth of content from Apple's service for as little as $30.

China's Global Times this week revealed that about 50,000 illegal accounts are being sold through taobao.com, with prices ranging from just 1 yuan to about 200 yuan, or $30. Many of the sales are said to be stolen iTunes user accounts being re-sold by hackers.

Here is more.

Diana January 7, 2011 at 9:25 am

Isn't there anything that can be done to prevent this?? It's a form of identity theft!

John Fast January 7, 2011 at 9:52 am

China seems to be going for all the worst forms of capitalism, i.e. everything that a left-wing lunatic accuses the US government and/or businesses of doing. ("Hey, gang, let's put poison in kids' toothpaste and powdered milk! And build faulty school buildings that will collapse in an earthquake! Who's gonna notice, anyway?")

They're acting both stupid *and* evil. Tom Friedman needs to get a clue.

My question is why they do it (and also how to stop them, or at least how to deal with it). My usual answer is "It's all about the incentives, including the culture."

amygoogs January 7, 2011 at 1:38 pm

How is this worth it? Can't you just illegally download anything through piratebay, etc? Or is this pirated music for dummies?

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