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This seems to be showing up in many tech websites as well as google searches. Here's a brief rundown

An unknown number of Apple IDs have apparently been hacked this week, and are being used to buy hundreds of dollars worth of apps in the App Store. It’s not yet clear whether the problem is widespread.

http://mashable.com/2010/07/04/itunes-accounts-hacked/

http://news.cnet.com/8301-13579_3-20009658-37.html

Although nobody should be surprised that itunes or app store where hacked everything has flaws and exploits.

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