Mike Wehner writing for TUAW:
It all begins with an otherwise unremarkable app suddenly skyrocketing in price, oftentimes all the way to the App Store’s limit of $999.99. The developer, or whoever is orchestrating the scam, wires a massive amount of money — Grachov used $10,000 as an example — to a second party. That individual then purchases 10 copies of the app, exhausting the available funds and indirectly paying $7,000 of the original deposit back to the developer. […] The App Store sees $10,000 worth of money changing hands over the app and, as Grachov says, “like magic” the app appears on the Top Paid apps list.
I’m not really sure if there is much Apple can do about this other than ban developers that have been found to be taking part in this sort of scam.
(Via The Loop.)