moonbender writes: Fake but working iTunes gift cards are being sold on Chinese auction sites for a fraction of their value: "The owner of the Taobao shop told us frankly that the gift card codes are created using key-generators. He also said that he paid money to use the hackers' service. Half a year ago, when they started the business, the price was around 320 RMB for 200 USD card, then more people went into this business and the price went all the way down to 18 RMB per card, "but we make more money as the amount of customers is growing rapidly."" The people at Outdustry have apparently confirmed this by buying a coupon and transferring it into an iTunes account. Oops.