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China's Alipay Reports that Hackers have Taken Money from Accounts using Stolen Apple ID's

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Ant Financial's Alipay, the operator of one of China's top two mobile payment apps, said hackers have taken an unknown amount of money from accounts using stolen Apple Inc IDs and the issue remains unresolved despite reaching out to the U.S. giant. Alipay said in a post on its Toutiao social media account on Wednesday that users who have linked their accounts using Apple IDs should lower transaction limits.

 

Alipay further noted that they had contacted Apple many times, and the issue has yet to be resolved. The breach has affected users of both Alipay and Tencent Holdings Ltd's WeChat and some users lost up to 2,000 yuan ($288), state media outlet Xinhua said on Thursday.

 

It is not clear how many users were affected by the breach, and Alipay's statement urged affected users to contact Apple.

 

The potential breach underscores the security challenges facing China's huge mobile payments market, where WeChat and Alipay services have become ubiquitous in daily life.

 

It also highlights the pitfalls facing tech firms in China, where smartphone scams and personal data breaches are more common than other markets. For more on this, check out Reuters report here.

 

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