Spoof played in the name of PayPal: Not to trade in cryptocurrency

Hackers taking advantage of hysteria of cryptocurrency market making the downturn again

PayPal is one of the renowned giants in online payment ecosystem. It has been gone through so many criticisms being allowing the cryptocurrency trading and now it is a cryptocurrency centralized platform. But, recently a purported email from PayPal is shot that warns people not to buy, sell or transact anything related to cryptocurrency or indulge in any cryptocurrency activity using PayPal account otherwise their account will be terminated at the earliest. The mail was shot on 16th March.

It was thought to be some phishing attack and the mail is not sent from PayPal. But later in the investigation, it was found that the email is sent from mkts2944.com which on probe found to be an IBM domain. IBM stands for International Business Machine, a global tech Giant. That has become the unsolved mystery now that why in the name of IBM. It was also highlighted that the motto of the email was not to hack the accounts of the PayPal users but to stop PayPal users from trading in cryptocurrency.

The cryptocurrency market is already going through the bad face. It is said that after April 2013, this was the lowest crash seen by the market last week. And this mail has fuelled up this problem to the maximal.  PayPal has not issued any resultant information regarding how a culprit has got the access to the PayPal users. You must know that it is possible for anyone to access chunks of data that is hacked Bitcoin-related data. It can be seen using “haveIbeenpwnd.com” and cross verification regarding this information can be done.

PayPal has not issued any formal statement regarding this spoof. PayPal has signed a number of patents for cryptocurrency transactions in recent time. This highly emphasizes the fact that PayPal itself cannot deny its users from using the cryptocurrency trading. PayPal can also determine its users who are trading in cryptocurrency using it, in case required.

It can be interpreted easily that this email is forwarded to the PayPal user creating a surge not to trade in cryptocurrency as one of the manipulating marketing strategies but the mystery remains the same, why it has been done.

Source: Read Full Article

Leave a Reply