macnn is reporting that the first iPhone app from the AppStore has been hacked. That didn’t take long. I predicted it back in this article.

What does this mean? If you are trying to sell apps on the AppStore it means you won’t make as much money. If you’re buying apps from the AppStore it means developers may decide to raise their prices or to not develop for the app store at all. If you’re using pirated app store apps it means you get something for nothing.