Alert: If Your PayPal Password is on This Specific List, Make an Immediate Change
In a recent development, a cybercriminal is selling millions of PayPal usernames and passwords on an online forum. The data, which originates from a 2022 breach, as confirmed by PayPal, includes around 15.8 million stolen records, including plaintext passwords.
The breach serves as a stark reminder of the importance of strong passwords and two-factor authentication in maintaining account security. Most data security breaches (81%) are caused by weak passwords, making strengthening passwords a crucial step in safeguarding your online accounts.
Regularly updating passwords and enabling two-factor authentication are critical measures to ensure account security. While the dataset is being sold for $750, checking whether your password is listed requires purchasing it. However, it's critical to check password lists for all accounts, especially banking and finance platforms, email, and cloud data storage.
Several organisations, including Hive Systems, NordPass, and CyberGhost, provide lists of insecure passwords to help users strengthen their passwords. These lists group passwords by theme rather than popularity, offering valuable insights into common mistakes.
The annual lists from NordPass and Hive Systems highlight the importance of character length and a mix of upper and lowercase letters, numbers, and symbols in passwords. Using an authenticator app instead of SMS for two-factor verification is also suggested, as SMS is inherently weak.
If your device allows it, adding a passkey to link your account sign-in to your device's security is recommended. This measure provides an additional layer of protection, making it harder for cybercriminals to gain unauthorised access.
While the PayPal breach is currently in the headlines, it's important to strengthen passwords for all accounts. It does expose the extent of weak passwords and password reuse among PayPal users. It's safest to assume that if you haven't changed your PayPal password in a while, it might be listed in the sale.
It's crucial to remember that strengthening passwords is not just about the PayPal breach. It's about ensuring the security of all your online accounts. Therefore, it's essential to check your new or existing passwords against a list of easily hacked passwords to avoid becoming a victim of a data breach.
Enabling two-factor authentication on your PayPal account is also recommended. This measure adds an extra layer of security, making it harder for cybercriminals to gain unauthorised access to your account.
In conclusion, the PayPal data breach serves as a reminder of the importance of strong passwords and two-factor authentication. By taking these measures, you can significantly reduce the risk of your accounts being compromised in a data breach.
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