Critical PayPal Security Hack: Multiple Thefts Now Reported—Check Your Settings [Forbes]
PayPal Holdings, Inc. (PYPL)
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Source: Forbes
“We have found a serious issue in PayPal's contactless payment,” security researcher Markus Fenske explained to me. He claims that when using PayPal for contactless payments there is a vulnerability that Fenske and colleague Andreas Mayer say enables an attacker “near your mobile phone [to have] a virtual credit card which deducts money from your PayPal account.” The issue appears to be behind reported thefts from multiple German users over recent days—fraudulent transactions with U.S. stores. The flaw relates to the linkage between PayPal and Google Pay. Alarmingly, the researchers say that this attack “is not limited in validity or amount.”All users should check statements for unfamiliar transactions and consider unlinking Google Pay until it is resolved. Just days ago I reported on a different set of “ critical vulnerabilities PayPal users in Germany fallen victim to the attack As one user complained , “I just received a notification on PayPal that three transactions to Target are
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News
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PYPL
Earnings
- 2/7/24 - Beat
PYPL
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- PYPL's page on the SEC website