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PayPal Accounts Breached Every Day, Now Hitting The News

PayPal Accounts Breached Every Day, Now Hitting The News

PayPal Accounts Breached Every Day, Now Hitting The news.

Now most leaks are in a few thousands each day, depending on the hacker/s, but this time it seems to have made the news with 34,942 thousand accounts leaked.

PayPal is currently sending out data breach notifications to thousands of users who had their accounts accessed.

Credential stuffing attacks:

These recent attacks are said to be credential stuffing attacks which is basically a hacker re-using the credentials from a hacked WordPress site for example, meaning the users are using the same userID and password just about everywhere.

Not an excellent idea, but some people just need to learn the hard way.

Now most people might think that a hacker sits and tries one and one account at a time, but no, they make use of for example Python scripts, which are simple enough to create and although not very fast, like 10 times slower than C, but they work very well for all intent and purposes.

What is excellent about being a Paypal user is that you get notified of a breach, now on January 18th, 2023, when it actually happened between December 6 - 8th, 2022.

Come December 20th, 2022, PayPal had concluded its investigation, confirming unauthorized third party access to its customers accounts, using valid credentials.

Paypal says its systems have not been breached and there is no evidence to support that their users credentials were obtained from their systems.

A total of 34,942 users have been impacted by the incident. During the two days the hackers had access to the account holders accounts, they could see full names, dates of birth, postal addresses, social security numbers and individual tax identification numbers.

Besides this transaction history is available, any connected credit or debit card, plus PayPal invoicing data are also accessible on PayPal accounts.

PayPal claims no transfers have been made:

The company claims no transfers were made from the breached accounts, but that still remains to be seen.

"We have no information suggesting that any of your personal information was misused as a result of this incident, or that there are any unauthorized transactions on your account," See PayPal's notification here.

Plus as is custom they recommend their customers activate 2FA, which is a two-egged sword.

The impacted users will receive a free-of-charge two-year identity monitoring service from Equifax.

Not the first time I write about this problematic issue. See the article: PayPal Leaks Thousand of Accounts Everyday.

But a few hundred to a few thousands, is not worth mentioning in the news and it keeps their service in the clear of potential lawsuits.


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