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Update: We've yet to hear from Apple proper, but we do have an update of sorts -- 9 to 5 Mac reports all the "mycompany" titles have completely vanished from the App Store. We're not sure whether Apple decided to shut down the operation or the seller pulled them himself, so continue to keep an eye on your digital pocketbook until we know for sure.

I changed my password last night, and set my account payment to 'None'. My mate had £210 worth of apps/books deducted from his account, and he longer owns an iPhone anymore.
According to him it wasn't a phishing attack as him or his wife had been on the net in quite sometime. He only noticed this last week when he checked his email to reveal an apple invoice containing a string of purchases.
It's quite possible they entered their Apple ID and password or bought one of those apps and the developer's account was compromised.
Surely a compromised developer account is not going to blow the door open for anyone who purchased one of their apps? Or am I misunderstanding you?
It's either phishing/malware running on the computer (most likely) or iTunes really did get hacked (unlikely, but not impossible)
I've changed my password just as a precaution as these articles are too vague.
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No, as a developer you do not have access to the account details (or bank details) of those that buy your apps through the iTunes store. Only if the app is tied to a external bank system and the user enters their bank details into that non-apple charging system would you get this.
As a developer you get information such as number of sales, uptake over time etc but not individual data unless the app sends it back (like the old phone number harvesting that apple came down on developers over).
If you jailbreak then any application can access any part of the OS or other apps, export your entire contacts collection, key presses for trojans etc.
Majority are through trojan or pishing though.