Paypal Security Breach Alert!!!!!

  1. PayPal alerted me that my account was hacked on Thursday morning. The thieves were attempting to transfer nearly $3,000.00 from my checking account. Understandably I was major pissed off. PayPal agent informed me that if transfer somehow slipped through the money would find its way back to our account in 3-5 business days. :wtf: TOTALLY UNACCEPTABLE!

    When telephone conversation with PayPal ended I immediately called the bank and froze our accounts. It took two days to straighten out the mess. We had to file consent forms with the bank to initiate the freeze and filed even more paperwork to launch a criminal investigation. The account remained frozen for nearly 36 hours during which time we were unable to access our own money.

    My husband who is a law enforcement official had to take three hours from work to sort through the red tape involved, and was none too pleased (to say the least) with PayPal's limited response. When we returned from the bank I contacted PP and angrily informed them they miserably failed in their primary role as a barrier between their customers and criminals.

    In my initial conversation with PP agent regarding the breach I was told to rely on PayPal to put things back in order. At no time did anyone suggest I call the bank in an attempt to shut it down on my end. If I hadn't taken upon myself to do so there's no doubt that money would've vanished from our account.

    I'm writing of this experience because my husband just informed me there have been three official complaints of hijacked PayPal accounts in the past 72 hours in our immediate area. People are devestated to learn that local law-enforcement agencies are basically powerless when a crime is committed out of their jurisdiction.

    There's reason to believe this breach is widespread so if you number among the millions of people with a PayPal account I strongly urge you to monitor it. THE BEST ADVICE I CAN OFFER IF YOU SHOULD FALL VICTIM IS TO CALL THE FINANCIAL INSTITUTION INVOLVED IMMEDIATELY. Otherwise, your money could be tied up for quite some time.

  2. NOTE: The reasoning behind my belief that the funds would've been deducted from our account had I not involved the bank is that THE DAY AFTER PP contacted me with the news they had initiated a reversal and my account was out of danger there was a SECOND ATTEMPT to transfer the money. :wtf:

    I realize that two attempts is normal PayPal procedure but in this particular instance it serves as proof they didn't implement the security measures they claimed they had.
  3. do you think that having the security key can help to protect accounts and make hacking more difficult?

    i have one and it makes me feel safer... i dont know if i really am but for some reason it seems like to 1st have to hack through my password and then to have to sort out hacking through the key with changing #'s every minute,,,,

    it just seems like it would be quite a bit harder, and maybe make the hackers move onto an acct without a key?,,,

    i am so sorry that happened and so glad you took it upon yourself to close it at your end whew! and so scary!
  4. So sorry you went through this mess! :cursing:

    I seriously urge ANYONE who wants to continue to use paypal to link it to an bank account that only has a tiny amount of money in it, preferably one you use only for paypal.

    There are SO many nightmare stories.
  5. I would never have my personal bank account linked to Paypal. Don't trust them or their "security" measures. Paypal seems to think they can do anything (or nothing). Not to mention, hackers are everywhere. I only use a credit card, at least I know there is a bit of protection for fraudulent use.
  6. This is getting scarrier every day . I am really sorry to hear this. Something similar happened to a friend of mine a while ago. Personally I just had a fraudulent chargeback. It's just maddening. i am out of nearly $1000 and a gorgeous bag. This is the first time ever I had such a problem. I thought of not accepting paypal anymore as a seller but it just really limits what you sell...grhhh
  7. :flowers::shame:
    I know absolutely nothing about a security key. Will you please explain how it works and where it can be obtained? :flowers:
  8. catcat,

    Sorry to hear of your troubles and I hope everything works out in your favor.

    I've been looking into Bidpay. The transaction process takes longer (24-48 hours to complete) but I've read they do a thorough job of validating the transaction from beginning to end, thus reducing the risk of fraud and/or theft.

    An Added Bonus: There are less fees involved.
  9. oh its this great thing this is what it looks like
    and you get it through paypal

    if you log in then up on the right side click security center, and then in security center at the bottom there is a box that says security tools, if you go there, the 2nd thing down is the paypal security key

    basically its this thing you pay a 1 time fee of $5 and they send it to you, and if can be used with both paypal and eBay

    and you activate it and it has a button you press that generates a 6 digit # code and it only is good for one minute then it goes blank and you have to press again and get a new #

    and so every time you log into eBay and paypal if will ask as always for your password but then it will ask for the security key # and you press the button and use the 6 digits that are generated at that moment

    if you wait over a minute you have to press again for a new one!

    it makes me feel SOOOOO much safer because i feel like yea maybe a hacker can get my password but how do they know what my secuirty key says?!
  10. if you go to that place in paypal it has like an overview of the security key so you can learn more about it

    here is what it says:

    PayPal Security Key

    [​IMG][​IMG] Add an extra level of security when you log in with the PayPal Security Key.
    We protect your account with one of the highest levels of online security available. Now you can add even more protection with the PayPal Security Key.
    Already have a key?

    Or to activate your PayPal Security Key with your eBay account.

    How does it work?

    1. order and activate your PayPal Security Key.
    2. Log in to your account.
    3. When prompted, enter the code on your Security Key.

    Keep one step ahead.
  11. i hope that video link when you click get it now doesnt take you to my acct :sad: does it?
  12. omg the security key!
  13. That's absolutely ridiculous!

    One of the main reasons I closed my paypal account was to avoid all of these problems that people have been having. Quite honestly, I don't think there will ever be a truly safe method of payment for online purchases...It's too bad that Paypal doesn't seem to have the safety of their customers in mind...
  14. I just ordered it! It's cheap!