PayPal recently experienced a data breach through the use of credential stuffing, a method of taking previously compromised username and password combinations from other websites and attempting to use them on PayPal accounts. The breach, which could have affected customers in the United States and Europe, was discovered earlier in October 2020.
Credential stuffing is a method of data theft that involves the use of previously exposed username and password combinations to take over accounts. This type of attack is generally used on accounts with weaker passwords and those which have previously been compromised. It is one of the most difficult forms of data breaches to detect and often takes longer to detect than other forms of hacking.
This type of attack can be particularly damaging to companies, as it can potentially expose sensitive information like credit card numbers, address, and other personal data. In the case of PayPal, the breached information included email addresses, phone numbers, dates of birth, and encrypted passwords.
PayPal responded quickly to the incident and informed potentially affected customers to change their passwords and review their accounts for any suspicious activity. PayPal also resorted to several security measures to prevent further credential stuffing attacks, such as two-factor authentication and improved login procedures.
The PayPal data breach highlights the importance of keeping user accounts secure and making sure that passwords are as strong as possible. Additionally, consumers should regularly review their online accounts for any suspicious activity and continue to update their passwords on a regular basis. By following these simple steps, users can ensure that their accounts remain secure and their personal data remains protected.
This Cyber News was published on securityaffairs.com. Publication date: Mon, 23 Jan 2023 08:46:03 +0000