What Do You Think Would Happen If Paypal Got Hacked?

Discussion in Payment Methods started by marshaljohn10 • May 30, 2015.

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Do you trust paypal with your life?

  1. Yes

    6 vote(s)
    40.0%
  2. No

    4 vote(s)
    26.7%
  3. Maybe

    4 vote(s)
    26.7%
  4. Not at all

    1 vote(s)
    6.7%
  1. tonyb

    tonybActive Member

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    I trust PayPal to be safe and have a strong security system especially knowing fully well so many cards are linked in there. Tech is advancing daily and I believe any hack or attempts to hack a system these days can easily be traced
     
  2. thisnthat

    thisnthatActive Member

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    Do I trust them with my life? No. I have, however, trusted them with my money for several years now. I have yet to have any issues, so I will continue to use them.

    I'm sure anything can be hacked if someone wants to do it badly enough. I would be very upset if my Paypal account ever got hacked though. Since you have to tie it to a bank account that could create huge problems. I do have to say that my bank is on the ball though. They have a good record against fraudulent transactions.

    Let's just hope Paypal doesn't get hacked, okay? I currently don't get hit with many fees, so they save me money. If I had to use another payment processor it would likely cost me more money.
     
  3. Jasmin Cottontail

    Jasmin CottontailActive Member

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    This thing cross my mind from time to time since I'm using PayPal for my online transactions. Well I can't help but to worry however, what can I do about it? Since I'm a freelancer and it is necessary for me to use PayPal or any other online services similar to it, I don't have much of a choice but to use it, though I know that it is safe.

    That's why I do set a minimum amount to withdraw so when it reaches to that certain amount, I will transfer the funds to my bank account right away to prevent it being loss or hacked.
     
  4. tonyb

    tonybActive Member

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    I trust PayPal to a reasonable degree. I wouldn't like to think about any chance of it being hacked. I think they should have strong security as like that of banks. Peradventure there is a hack I hope they have measures on ground that can help in the crime trace.
     
  5. James-M

    James-MMember

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    It depends on what you call a "hack." Partners were breached, there have been several "bugs" on the PayPal website that potentially exposed customer information, etc. Have they had a Heartland Payment Systems-level of compromise? All signs point to "no."
    However...
    Perhaps they've had breaches, just never one that would have mandated a public notification under (I assume) California law and therefore we haven't heard about it in the news.
    It's almost impossible to say that Company X has never been hacked. That statement can get one into legal trouble very quickly, and in the security world, demonstrates stupidity, arrogance, or naivety (or all of the above). One might be better off saying PayPal has never detected a compromise of its financial systems or website. Or: PayPal to the best of their knowledge has never had a successful attack on its financial or customer data, etc.
     
  6. Nakitakona

    NakitakonaActive Member

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    Practically, we would be panic. However, those hackers couldn't get in into our individual account for we are only the one who knows our password. My only concern is when our individual PayPal account would be hacked. Well, that is the big question and that is the big problem. We will be losing our outstanding balance which would be withdrawn by the hackers. So to play safe, always withdraw your money in your PayPal account. One thing I trust PayPal is the constant reminder if you have an outstanding balance. We should use it before it is too late. And PayPal is right. Why keep your money in PayPal? It doesn't earn any interest. PayPal is a money processor. It facilitate the payment of online purchases, services, among others. And also it serves as a medium of receiving payment from the services we rendered or work we did online.
     
  7. fuzyon

    fuzyonNew Member

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    It's extremely hard to hack PayPal, although it's not impossible since even the giants like Microsoft or Google have been hacked before. I imagine they have the best security in the world considering they're the best company in their niche, but there will always be breaches in the databases.

    If PayPal were to be hacked and I'd lose my money I'd be upset, it would mean I lost a lot of money that I've been storing up for quite a while and I'm yet to find a site that comes close to PayPal in terms of customer support and promptness.
     
  8. tonyb

    tonybActive Member

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    This is something I wouldn't like to think about the possibility of it ever happening. That said, but if it happens I want to believe there should be strong security network on ground to round up the hackers as quickly as possible. I don't want to think about the possibility of loosing money, just believe PayPal should be able to sort things out if it happens.
     
  9. annitha

    annithaActive Member

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    I don't trust anything with my life, because that would be completely random and unnecessary. Why would I? And why would I trust the Paypal with anything? It is only an online banking institution like any other.

    Paypal has a very high security and without any doubt like any other serious institution they are insured, plus you can't just get inside it or hack it without any consequences. It's like saying you gonna hack into Google. Really thin chance for that.

    So, even if an unfortunate event somehow happens I doubt it would pass smooth and silky for teh hackers who try doing it.
     
  10. kamai

    kamaiActive Member

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    I have actually thought of this happening before. I don't really accumulate much money but it does take a while to earn which will definately stress me out if one day it was all gone. I do grocery shopping and buy necessities for my daughter online with that money. I really hope thus never happens.
     
  11. James-M

    James-MMember

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    I know somebody who works at eBay (even though the two companies are splitting this still applies) I asked him about eBay and PayPal being "hacked". This happens a fair amount and usually the press makes a big deal about it. However he said usually no information is stolen and it's not that big of a deal. PayPal is still plenty safe to use and is better than using a credit card to pay on a sketchy website however there are numerous times where there have been these so called "hacks"
     
  12. nangk08

    nangk08Active Member

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    I trust Paypal and have been using it for many years now. Although, I make sure to change password often and take all required precautions to keep my information safe, I still worry occasionally about the account being hacked. What makes it concerning is that all users are required to link their credit cards with Paypal account and I just shudder to think how many people could get their credit card info stolen if Paypal were to be hacked!
     
  13. luckycharm

    luckycharmActive Member

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    I think PayPal is highly secured as it is dealing with money. AT the same time I also believe that anything that can be accessed can be hacked too. So it would not be an impossible task for an intelligent hacker. But why should they do that when they can easily steal information through shopping sites and other similar transactions.

    Anyway I would not be much worried about it. I cannot keep money in my PayPal account as it gets automatically transferred to my bank account within 24 hours. Moreover, I do not link my cards with PayPal as I am not a regular online shopper.
     
  14. moneymania

    moneymaniaActive Member

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    Paypal has been operating since 1999, and up until now I haven't heard of the site being hacked. Sure, there may have been other people that have succumbed to phishing tactics that has gotten their account compromised, but that's on an individual basis and not a mass hacking type of thing. So I think that Paypal is a fairly secure site. I have been using that site since 2008, and my account has never been compromised.
     
  15. luisalex96

    luisalex96Member

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    If someone hacked my account, first step I'd to do is change my password , second step is if used that password anywhere like email , facebook , skype or other websites change password there too . Remember one thing Paypal or any services will never ask about your personal details or your billing details via email , to identify phishing attack you need to see the header of email , address bar of the malicious site , and SSL Certificate . Use updated anti-virus and anti-malware software
    Do not download crack or keygen
     
  16. kingcool52

    kingcool52Active Member

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    To be fair I trust them and I don't have much to worry about as I only have about $20 on there so I wouldn't be losing that much. Plus I'm sure they would compensate everyone back unless they end up declaring bankruptcy. If they did get hacked it would be a massive problem considering how many companies use it for payments and how many individuals keep their money on there
     
  17. tonyb

    tonybActive Member

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    I trust PayPal to a reasonable extent but not absolutely. So far it has been my main channel of receiving pay online and I have equally use PayPal a lot in paying for services online. It's be there for years and I trust they are meeting up with security.
     
  18. Vinaya

    VinayaActive Member

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    My paypal account does not hold too much money. It is usually less than $100. When ever I have money on paypal I spent it on goods or services. Therefore,if paypal is hacked, I will not lose a ig amount, however, this hacking will involve really big amount that most of us cannot imagine.