It has been confirmed that thousands of PayPal accounts were accessed by credential stuffing attackers between December 6 and 8, 2022.
A credential stuffing attack occurs when a threat actor uses an automated process to attempt to login into a service with credentials that have been reused between accounts and subsequently breached at one of them. This is why security experts go to great lengths to advise against such password reuse.
The official notification, which has been sent to all affected account holders, states that confirmation of the attacks was made on December 20. It goes on to say that PayPal has"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." Access to the impacted accounts was"eliminated for unauthorized third parties" on December 8.
PayPal is offering affected customers two years of free access to identity monitoring services provided by Equifax. Customers who have not received the notice of security incident from PayPal will not have been impacted by this particular concerted credential stuffing attack. However, if you are using login credentials that you also use elsewhere, you are advised to change to unique and strong passwords at all those services. A password manager, such as 1Password or BitWarden, can help make this a relatively painless exercise.
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