Mass hacking of PayPal accounts caused by reused passwords

35,000 PayPal user accounts were accessed due to a security breach caused by credential stuffing. This type of attack occurs when hackers use previously compromised login information to gain access to an account with the same credentials. The event acts as An important reminder to remind you of the importance of taking proper precautions when it comes to online security. Here are the details…

35,000 PayPal user accounts were hacked due to reused passwords

From December 6th to 8th, 2022, nearly 35,000 PayPal user accounts were accessed due to a security breach caused by credential stuffing. This type of attack occurs when hackers use previously compromised login information and try to access an account using the same credentials. In this case, the hack is 34,942 user accounts were able to be accessed due to users reusing their passwords.

During the two-day intrusion, hackers may have obtained extensive personal information on affected users, including full names, dates of birth, postal addresses, Social Security numbers, and personal tax ID numbers. They can also access transaction history Linked credit and debit card details and PayPal invoice data.

However, PayPal was able to quickly detect and stop the attack, and reset passwords for affected users, preventing any unauthorized transactions from occurring. The company also assured its users that no unauthorized transactions were attempted and offered two years of free service to affected users Credit monitoring with Equifax.

This incident serves as a reminder of the importance of not reusing passwords across platforms, especially for payment platforms like PayPal. Using a password manager like 1Password can help users generate and remember unique passwords for each account. Additionally, enabling PayPal’s two-factor authentication can provide an extra layer of security to protect user accounts.