Hackers in China accessing Apple IDs to steal money from iPhone users

In an increasingly sophisticated scheme, hackers are stealing Apple IDs and siphoning big money from iPhone users. The scam works by accessing payment information from credit cards tied to iPhones.

The theft happened in China and was reported by mobile payment platform Alipay, who said that it has reached out to Apple to find out how the breach happened.

Here’s how thieves are stealing money from iPhone users

According to Bloomberg, Alipay “warned users that’ve linked their Apple identities to any payment services, including Tencent’s WePay, to lower transaction limits to prevent further losses. Tencent said in a separate statement it too had noticed the cyber-heist and reached out to the iPhone maker.”

As of this writing, it’s still a mystery as to how criminals were able to access Apple IDs. While the investigation continues, China’s two largest companies told users it’s best to change their passwords and take over safeguards.

“Since Apple hasn’t resolved this issue, users who’ve linked their Apple ID to any payments method, including Alipay, WePay or credit cards, may be vulnerable to theft,” Alipay said in its blogpost.

Is your money at risk if you have a credit card tied to your Apple account?

This particular instance of thefts has been isolated to China, but the ability of criminals to access your Apple ID is something iPhone and iPad users must always be aware of. The popularity of digital wallet services such as Apple Pay no doubt will present new opportunities for crooks to target people. The key is to stay diligent and always check your credit card statements carefully.