PayPal president David Marcus has confirmed that he was recently the victim of cyber fraud.
The hackers, who appear to have acquired the number through a POS malware/card skimming scam, made dozens of fraudulent transactions with Marcus’ information, Finextra reported on Feb. 11.
“My card (with EMV chip) got skimmed while in the UK,” Marcus tweeted following in the incident. “Tons of frauduluent xns. Wouldn’t have happened merchant accepted PayPal…”
Marcus later added that the hackers most likely scanned his mag stripe and were able to make transactions that way.
In a recent commentary, Market Platform Dynamics CEO Karen Webster wrote that the data breaches would have far-reaching implications. Read her thoughts on the matter by clicking here.
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