![]() The online payments provider also recommends enabling 2FA across web services, particularly for financial transactions. The company further recommended that users ensure any new passwords are strong and complex. There is also no evidence that your login credentials were obtained from any PayPal systems.”Īs recommendations to the affected account holders, PayPal suggested users change their passwords across platforms. 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. PayPal has confirmed that none of its databases were breached.Īs per the notification sent to affected account holders: “On December 20, 2022, we confirmed that unauthorized parties were able to access your PayPal customer account using your login credentials. Still, the data is likely to surface on some darknet forums sooner or later. PayPal Credential Stuffing Attack Was Avoidable with the Right Security Measures The attackers haven’t yet used the PayPal accounts’ information, but it could surface on darknet forums at any time.Īs of yet, the attackers haven’t used the compromised data for any shady activities or transactions. Often, these state laws don’t put any concrete time limit on reporting. Here, reporting laws for such incidents differ from state to state and are not subject to GDPR. Fortunately for PayPal, it’s headquartered in the US. 18.Īccording to the GDPR rules for reporting personal data breaches, affected companies must report any breach within 72 hours. In Paypal’s instance, it concluded its investigations on Dec. In Equifax’s case, it took the credit agency three months to update the public about the breach. Eventually, Equifax reached a USD 700 million settlement for the breach. In 2015, an Equifax leak led to the theft of the personal information of over 150 million American citizens. Ironically, these credit agencies have themselves suffered compromises in the past. In terms of identity restoration services, this package offers up to USD 1,000,000 of identity-theft insurance coverage, lost wallet assistance, automatic fraud alerts, web scan notifications, and access to major credit reporting agencies. Free identity monitoring is becoming a standard response in the event of identity fraud. In addition, it has offered free Experian identity monitoring services. In response to the security incident, PayPal has reset the passwords of all affected accounts. PayPal Provides Recommendations but Delays Reporting the Incident PayPal offered free identity monitoring services to affected accounts–but is this really enough to ensure online safety? Since the accounts didn’t have two-factor authentication (2FA) enabled, cybercriminals were able to break into and easily compromise them. Instead, they simply logged in to the PayPal accounts through easily purchased username/password pairs. ![]() The attackers didn’t compromise any of PayPal’s internal systems or employees in this credential stuffing attack. Aside from this customer notification, PayPal hasn’t publicly commented on the incident, as of the time of this writing. ![]() 20., Paypal started notifying affected customers of the attack, the Notice of Security Incident statement read, which was sent out on Jan. Plus, they might’ve gained access to transaction histories, connected credit/debit card details, and PayPal invoicing data. This information included users’ names, dates of birth, postal addresses, social security numbers, and tax identification numbers. During the two-day window, the attackers gained access to highly sensitive information. 8, 2022, cybercriminals compromised and harvested information from nearly 35,000 PayPal accounts in a credential stuffing attack, Paypal announced after an investigation into the incident. Failing to use 2FA could mean your data ends up in a leak.īetween Dec. ![]()
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