Northumbria Police has issued a warning via its official Twitter account over a crypto-focused scam pretending to be PayPal's help service.
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According to the statement, fake PayPal's emails are circulating over the Internet in which the bad actors are offering to cancel a payment to a cryptocurrency exchange that has been made via PayPal. When victims click a link, they are redirected to a phishing PayPal web page, which is reportedly trying to steal credentials and credit card information.
A message for all #PayPal users. Please read the below cyber advice regarding fake cryptocurrency from a fake Paypal email address that is circulating. If you think you may have been affected by this please contact @actionfrauduk 🚨 pic.twitter.com/hMsqqmrJmk
— Northumbria Police (@northumbriapol) November 9, 2020
Fraudsters always try to come up with modern scam schemes and PayPal's choice is not random. In October, Bloomberg reported that PayPal in planning to buy cryptocurrency-focused companies for its services.
One of the companies the payment giant could acquire is the crypto exchange BitGo. According to the sources, PayPal is already in talks with the company and the deal could be closed in the coming weeks.
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