Bitly alerts users of widespread account compromises, claims no accounts have been accessed

[iMore.com]

If you've ever created an account for the url shortening service Bitly before, you'll want to listen up. Bitly has now announced via their blog that they have reason to believe that Bitly account credentials have been compromised and are suggesting users change their API keys and OAuth tokens.

We have reason to believe that Bitly account credentials have been compromised. We have no indication at this time that any accounts have been accessed without permission. For our users' protection, we have taken proactive steps to ensure the security of all accounts, including disconnecting all users' Facebook and Twitter accounts. All users can safely reconnect these accounts at their next login.
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Full story from the iMore Blog...

 

[iOS Gravity]

I don't see the point of URl shorteners other than the fact that some give you money for every person that clicks on the shortened link.