PayPal data breach exposed 35000 PayPal accounts
By MYBRANDBOOK
PayPal suffered a significant credential-stuffing attack in December last year that compromised the sensitive personal information of close to 35,000 customer accounts. Credential stuffing are attacks where hackers attempt to access an account by trying out username and password pairs sourced from data leaks on various websites.
PayPal explains that the credential stuffing attack occurred between December 6 and December 8, 2022. For the two days the attack was running, hackers had access to all sorts of personal information, including full names, birth dates, address, social security numbers, and tax identification. They could also see PayPal transaction details that include credit card and bank information.
The company detected and mitigated it at the time but also started an internal investigation to find out how the hackers obtained access to the accounts. By December 20, 2022, PayPal concluded its investigation, confirming that unauthorized third parties logged into the accounts with valid credentials.
The electronic payments platform claims that this was not due to a breach on its systems and has no evidence that the user credentials were obtained directly from them. According to the data breach reporting from PayPal, 34,942 of its users have been impacted by the incident. During the two days, hackers had access to account holders' full names, dates of birth, postal addresses, social security numbers, and individual tax identification numbers.
The company strongly recommends that recipients of the notices change the passwords for other online accounts using a unique and long string. Typically, a good password is at least 12-characters long and includes alphanumeric characters and symbols.
Moreover, PayPal advises users to activate two-factor authentication (2FA) protection from the 'Account Settings' menu, which can prevent an unauthorized party from accessing an account, even if they have a valid username and password.
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