35,000 Users Get Exposed in Recent PayPal Breach

  • By Steven
  • Published: Mar 21, 2023
  • Last Updated: Mar 22, 2023

PayPal Breach

PayPal is a leading payment transfer service in the United States and other parts of the world. The company got started as a peer-to-peer payment solution and has evolved into a robust payment transfer solution for business and personal use. Today PayPal has more than 435 million users, and tens of thousands of those users were recently compromised by a serious data breach that could lead to identity theft and fraud issues, leading to some of the victims filing a new class action lawsuit for negligence. 

How Did the Attack Occur?

PayPal claims that hackers were able to infiltrate its file servers using login credentials obtained outside of its standard network. The company doesn't specify how this is possible but only states that one or more individuals were able to get into PayPal's files and gain access to key user information on a large scale. The attack first occurred on December 6th, 2022, and continued until December 8th, 2022, when PayPal completely blocked the attacker and secured the network. This was enough time for the attacker to obtain a significant amount of information for users all over the country. 

What Information Was Viewed or Stolen?

In PayPal's notices it sent to customers, it states that victims may have had their full names, addresses, birth dates, bank account numbers, Social Security numbers, and PayPal account balances released in the attack. This information could easily be used for identity theft attacks and could cause the affected victims some serious trouble. 

How Did Business Admit to the Breach?

PayPal admitted to this data breach by sending personalized letters to each of the individuals that were identified in the investigation as being at risk of being exposed. The company sent out letters detailing what information could have been released in the attack and offering each victim access to credit monitoring services. These services help guard against identity theft and ensure that you know what's going on with your credit if any strange changes occur. 

What Will Become of the Stolen Information?

If your information was stolen during this attack, it's possible the attacker will use it to attempt to open new accounts in your name. The information may also be sold to other attackers online, and it may be used in phishing attacks and for other harmful purposes. You should be careful to verify any email you open and avoid clicking any links to sites you aren't familiar with. Be careful, and you can avoid most potential issues that occur from this attack on PayPal. 

Many impacted individuals are suing PayPal for negligence, stating the company did not meet the minimum requirements for security and protection. The company is being sued for an unspecified amount of money, and it could be possible for you to get involved in the lawsuit as well if you were one of the affected individuals whose information was released in the attack. 

What Should Affected Parties Do in the Aftermath of the Breach?

If you were one of the affected individuals in this PayPal attack, you should utilize the complimentary identity theft protection services immediately. You should also consider putting a freeze on your credit to prevent it from being used in a harmful way. Other than those simple steps, you can begin monitoring your financial accounts closely for suspicious activity. Taking these simple steps will help protect you from any harm caused by this attack.

About the Author
IDStrong Logo

Related Articles

Instagram Vulnerability Allowed Hackers Access to Control Your Phone

Security experts Check Point Research discovered a critical vulnerability while examining Instagra ... Read More

Alien Malware Infects More than 226 Mobile Apps and Steals Bank Data

As reported on September 24, 2020, by ZDNet and ThreatPost, a new strain of malware named “A ... Read More

Universal Health Systems Hit by Ransomware Attack

Universal Health Systems (UHS), a Fortune 500 company owning more than 400 hospitals across the co ... Read More

Exchange Server Bug Exposes a Big Risk to Hackers

Months after Microsoft released a patch to fix a serious flaw in MS Exchange Server, more than 61% ... Read More

Clients’ Bank Data Exposed in Blackbaud Ransomware Attack

Blackbaud software was victim to a ransomware attack last May, and new information suggests that c ... Read More

Latest Articles

Financial Business and Consumer Solutions Data Breach

Financial Business and Consumer Solutions Data Breach

Financial Business and Consumer Solutions (FBCS) was founded in 1982 as Federal Bond Collection Services and currently has over 100 employees.

Wattpad Data Breach

Wattpad Data Breach

Reportedly, in the top 160 most visited websites in the world, Wattpad prides itself as the world's most loved storytelling platform.

Teleperformance Breach

Teleperformance Breach

Teleperformance began its operations in 1910 in Paris, France, as a customer service management company. The company founded its United States division in 1993, which is situated in Salt Lake City, Utah.

Featured Articles

How to Buy a House with Bad Credit

How to Buy a House with Bad Credit

Buying your own home is the American Dream, but it might seem out of reach to those with bad credit. However, the good news is, if your credit is less than perfect, you do still have options and in most cases, can still buy a home.

How Secure Is Your Password? Tips to Improve Your Password Security

How Secure Is Your Password? Tips to Improve Your Password Security

Any good IT article on computers and network security will address the importance of strong, secure passwords. However, the challenge of good passwords is that most people have a hard time remembering them, so they use simple or obvious ones that pose a security risk.

Top 10 Senior Scams and How to Prevent Them

Top 10 Senior Scams and How to Prevent Them

Senior scams are becoming a major epidemic for two reasons. First, seniors often have a lot of money in the bank from a life of working hard and saving.

Free Identity Exposure Scan
Instantly and Securely Check if Your Personal Information is Exposed on the Dark Web or Sold by Data Brokers
Please enter first name
Please enter last name
Please select a state
Close
Free Identity Threat Scan
Instantly Check if Your Personal Information is Exposed
All fields below are required
Please enter first name
Please enter last name
Please enter a city
Please select a state
Please enter an age
Please enter an email address
Close