A sophisticated and deceptive scam is targeting PayPal users with the goal of exploiting them financially. According to researchers at Malwarebytes, the phishing campaign uses various techniques to appear legitimate and trick victims into taking action.
The scam begins with a spoofed email that appears to be from PayPal. The email uses a copied layout and an alarming subject, such as a large, unexpected charge. In one example, the email stated that a new charge of over $900 for a cryptocurrency platform had been processed. The use of a large, alarming number is a common tactic to provoke an immediate response from the victim.
The email also contains several other warning signs. It creates a false sense of urgency, stating that a link to resolve the issue will expire within 24 hours. The phone number provided in the email has also been identified by the Better Business Bureau as being linked to scams.
Perhaps the most alarming part of this scam is the link itself. While it directs users to the official PayPal website, it is designed to add a secondary user to the victim's account. This gives the scammer access to the account, allowing them to clear out funds. With over 434 million users, PayPal presents a large target for these types of scams.
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