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What’s going on with security at PayPal?

christianvarga.com

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Re: What’s going on with security at PayPal?

#61

Post by bakugo »

2arrs2ells wrote: post #42
prvit wrote: post #34

This is silly. Nobody is going to sim swap you to steal your paypal funds, getting the money out is way too difficult.

I’ve seen sim swaps to get desirable instagram handles. I have to believe it’s easier to extract money from a PayPal account takeover than insta.

I have an instagram account that I basically don't use, created probably 10+ years ago. At one point I randomly decided to log in and found that my username was randomized and someone else (not even a brand account) was using my original name. I never got any emails about my account being accessed, my password was random, no login activity, etc. To this day I'm still wondering if the account was compromised without a trace or if instagram just decided to give my name to someone else.

Re: What’s going on with security at PayPal?

#62

Post by thematrixturtle »

JonathanBeuys wrote: post #45
thematrixturtle wrote: post #37

Earlier quoted context omitted.

I can't claim to speak for "everyone", but I was a crypto fanboy in the early days, when it seemed destined to be an actual currency, which would be great for all the reasons you mention. But at some point it all went off the rails: crypto became a deeply rigged casino targeting the most vulnerable people they could find, fueled by insane amounts of energy consumption and money laundering.

The same happened during the early days of the internet. Insane amounts of companies were founded, hyped and IPOed. Many many naive people turned into investors, losing trillions of Dollars. Should we have discarded the whole internet idea because of that?

This comparison was also made a lot in the early days of crypto, but at this point we're 15 years into crypto and real-life use cases remain awfully thin on the ground.

Re: What’s going on with security at PayPal?

#63

Post by cortic »

tomschwiha wrote: post #47
paultopia wrote: post #14

I have never once given one of these valley payments companies my bank account information, and this sort of garbage is why. If I need to pay something via PayPal, Venmo, or whoever the hell else, I'll use a credit card and happily eat a 3% fee for doing so, and that's the price I pay to be able to tell Chase or Amex to handle it when some fraudster gets at my info rather than watch my bank account get drained.

In Germany (Europe?) it's not allowed to charge additional fees for using a credit/debitcard. However even bank transactions that were externally charged from your account can be reversed for up to 6 weeks.

Actually its not allowed to tell the customer about additional fees for using credit cards. The fees are still applied to the merchant, the law just forces the merchant to recoup the fees from all their customers. So in the EU, you are paying credit card fees even when not using a credit card.

And i have witnessed many examples in the EU where a person had money transferred from their bank account and the banks could not reverse it.

Re: What’s going on with security at PayPal?

#65

Post by JonathanBeuys »

thematrixturtle wrote: post #62
JonathanBeuys wrote: post #45

Earlier quoted context omitted.

The same happened during the early days of the internet. Insane amounts of companies were founded, hyped and IPOed. Many many naive people turned into investors, losing trillions of Dollars. Should we have discarded the whole internet idea because of that?

This comparison was also made a lot in the early days of crypto, but at this point we're 15 years into crypto and real-life use cases remain awfully thin on the ground.

15 years because the Bitcoin whitepaper was written in 2008?

The Internet Protocol whitepaper was written in 1974.

15 years later, in 1989, real-life use cases of the internet were at least as thin on the ground as crypto use cases today.

Re: What’s going on with security at PayPal?

#66

Post by yywwbbn »

cortic wrote: post #63
tomschwiha wrote: post #47

Earlier quoted context omitted.

In Germany (Europe?) it's not allowed to charge additional fees for using a credit/debitcard. However even bank transactions that were externally charged from your account can be reversed for up to 6 weeks.

Actually its not allowed to tell the customer about additional fees for using credit cards. The fees are still applied to the merchant, the law just forces the merchant to recoup the fees from all their customers. So in the EU, you are paying credit card fees even when not using a credit card. And i have witnessed many examples in the EU where a person had money transferred from their bank account and the banks could…

Well in the EU credit/debit card fees are capped at 0.3/0.2% so while not exactly fair it’s not a huge deal compared to the US (where everyone is paying for credit card users rewards and cash backs).

AFAIK only SEPA direct debit transfers can be canceled/reversed so normal transfers are still not (easily) reversible.

Re: What’s going on with security at PayPal?

#67

Post by lokedhs »

After reading the discussion here I decided to delete my paypal account. So I attempted to log in, and it required me to provide a 2FA authentication using SMS. Problem is that I don't have access to the registered number anymore.

So now I can't log in, which prevents me from deleting the account.

Re: What’s going on with security at PayPal?

#68

Post by s_dev »

lokedhs wrote: post #67

After reading the discussion here I decided to delete my paypal account. So I attempted to log in, and it required me to provide a 2FA authentication using SMS. Problem is that I don't have access to the registered number anymore. So now I can't log in, which prevents me from deleting the account.

Send a GDPR request to delete it to their support.

Re: What’s going on with security at PayPal?

#69

Post by prvit »

bakugo wrote: post #61
2arrs2ells wrote: post #42

Earlier quoted context omitted.

I’ve seen sim swaps to get desirable instagram handles. I have to believe it’s easier to extract money from a PayPal account takeover than insta.

I have an instagram account that I basically don't use, created probably 10+ years ago. At one point I randomly decided to log in and found that my username was randomized and someone else (not even a brand account) was using my original name. I never got any emails about my account being accessed, my password was random, no login activity, etc. To this day I'm still wondering if the account was compromised without a…

Unless your email was also compromised, your name was taken by an FB employee. They do this all the time for their friends and whoever might bribe them.

Re: What’s going on with security at PayPal?

#70

Post by b800h »

lokedhs wrote: post #67

After reading the discussion here I decided to delete my paypal account. So I attempted to log in, and it required me to provide a 2FA authentication using SMS. Problem is that I don't have access to the registered number anymore. So now I can't log in, which prevents me from deleting the account.

And once you do log in, I can almost guarantee that you'll be unable to delete the account due to a "pending transaction".
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