China’s two largest companies, Ant Financial’s Alipay and Tencent Holdings Ltd, have recommended their digital wallet users to safeguard their Apple accounts, as well as change passwords, as some hackers who have stolen Apple IDs are swiping cash in China.
Ant Financial, which is controlled by Alibaba co-founder Jack Ma, is estimated to handle more than half of China’s USD 17 trillion in annual online payments.
Alipay said on its Weibo blog that it has contacted Apple and is working to get to the bottom of the breach. It warned Alipay users that’ve linked their Apple identities to any payment services, including Tencent’s WePay, to lower transaction limits to prevent further losses. Tencent has also reached out to Apple to resolve the same.