iTunes Hacked: What to do if You Were Affected
July 06, 2010
Over the July 4 weekend an apparent hack of the iTunes store, by a vietnamese-based app developer, may have cost a few hundred iTunes users hundreds of dollars.

Apple has since pulled the apps and banned the developer from the iTunes store, according to PC World. It also released this statement about the scam:

The developer Thuat Nguyen and his apps were removed from the App Store for violating the developer Program License Agreement, including fraudulent purchase patterns.

Developers do not receive any iTunes confidential customer data when an app is downloaded.

If your credit card or iTunes password is stolen and used on iTunes we recommend that you contact your financial institution and inquire about canceling the card and issuing a chargeback for any unauthorized transactions. We also recommend that you change your iTunes account password immediately. For more information on best practices for password security visit http://www.apple.com/support/itunes. - Apple statement via Engadget