January 20, 2023

Forbes: Thousands Of PayPal Accounts Hacked—Is Yours One Of Them?

According to a PayPal notice of security incident dated January 18, attackers got unauthorized access to the accounts of thousands of users between December 6 and 8, 2022. The total number of accounts that were accessed by threat actors using a credential stuffing attack is reported as being 34,942. While accepting that PayPal is seemingly doing the best it can for the customers involved in this security incident by recommending password changes, Jasson Casey, chief technology officer at Beyond Identity insists that “passwords – whether unique or complex – are fundamentally flawed.” Instead, Casey says, organizations should be moving to phishing-resistant credentials such as the FIDO Alliance standard blueprints.

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