Paypal has serious security problem
(Nov. 23, 2002) One online phone card company reported to Boxun a serious security problem with Paypal. This company has received many fraud payment through Paypal. All these payments had been made by "Verified" Paypal Members, some members showed more than a year's history with Paypal.
As the phonecard was sent to the buyer's email which is the Paypal's member ID, the intelligent thief must break in both member's password at Paypal and password of Email account. Paypal has never explain how this could happen in its system, but Paypal simply reverse the payment, sometimes, Paypal just closes the retailer's account and freezes the money.
Here is one example of Paypal's notice to retailer: (博讯boxun.com)
Recently, PayPal received a notification from a user regarding unauthorized access to his PayPal account. As a result, one of the pending payments to your PayPal account has been reversed. The details of this transaction are as follows:
Transaction Date: Nov XX, 2002
Transaction Amount: $XX.00
Buyer's Email: X@hotmail.com
Some victims os Paypal has setup website to collect complains and help in legal action against Paypal:
http://www.paypalwarning.com
(博讯boxun.com)[博讯首发,欢迎转载，请注明出处]
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