is it possible that your paypal may be hacked?

Philippines
July 31, 2010 5:23am CST
i'm new to this business..i'm new here in mylot and i only signed up for paypal due to mylot... i'm actually hesitant to enter my bank information for fear of my paypal account being hacked by others and they can access relevant information and use it on their selfish benefits... though i don't have money on my account at all times but still it won't be good if others will be able to access it right? and my boyfriend scolded me for placing my bank info there...because he have read about paypal scams...please tell me if it's safe... thanks...
1 person likes this
3 responses
@paidreader (5152)
• United States
31 Jul 10
Hi deve_annrn. Yes, it is possible to have your PayPal account hacked or for fraudulent charges to be attempted. PayPal has some pretty advanced security though and can usually detect this sort of thing. A few years ago I got a call from a PayPal representative asking if I had made a $5000 purchase from China. I laughed and said "No, I don't have that much in my account." The representative told me that an attempt had been made and they were just confirming since it had looked suspicious. Looking further, they also saw that they had taken $19 of my $19.50 balance in a second transaction. Because they saw this was to the same person, they were able to cancel the $5000 transaction and return the $19 to my account. Needless to say, they also took action against the hackers account. I'm sure they had to return other peoples money as well. Since then, I have made a point to educate myself on how to prevent this sort of thing from happening again. I recommend doing some research on the PayPal website as they have some very good tips about online safety and protecting your account. You can learn more about what to watch out for and how to report suspicious emails as this is how so many hackers can gain access to your account. As additional protection, I also got one of PayPal's security key chains to generate a special code to prove it's me every time I log in. Without the extra code, no one can get in, even if they figured out my password. The bank account I have attached is only used to withdraw my online earnings to and is not attached to my primary checking account since it's at a separate bank. Doesn't hurt to be cautious and taking steps like these can prevent a potential financial disaster.
• Philippines
1 Aug 10
well this is very informative...and i'm a bit alarmed knowing that it is indeed possible to that someone else can gain access to our private information and used it to their own benefits..making us suffer in the process.. i sure will practice cautiousness and follow your instructions...thank you and have a good day...=)
• United States
1 Aug 10
thank you too,paidreader!I also had this problem before and now I know how to protection my paypal account and that is very useful for me. But I still think,if we attention more carefuly about our bank account,that bad thing won't come across,right?
• Philippines
2 Aug 10
definitely...thanks again...=)
• India
1 Aug 10
Hi Deve it is possible but Paypal provide top security measures , please do not disclose your account information to other and change your password accordingly . Else everything will be fine I never encountered such problems . :)
• Philippines
1 Aug 10
hi...thank you very much...yes i will definitely disclose such information to anyone..and probably i will keep on changing my password just to be sure...there's nothing wrong with being extra cautious..right...?=)
• Malaysia
1 Aug 10
Even an advanced security of websites such as Paypal can be penetrated. Nowadays hackers keen on looking and searching the hole in their security system. A lot of variations to add money in such Paypal account software developed by these hackers exist. It may come not only to get own benefits by having own account having money from nothing, it also come with stealing from someone's account. Anyway, the best way to avoid it is to have better password and try not to have huge balance in your Paypal.