![]() How the hacked buyer becomes the victim here is pretty easy to see as the funds come out of their financial accounts still connected to PayPal. This is typically either a bank account, debit card, or credit card from the hacked buyer. If the hacked buyer’s PayPal account has a zero balance, PayPal will fund the purchase from the backup payment method many users link to when they originally signed up with PayPal.PayPal pays the hacked buyer from the hacked seller’s PayPal account. Next, the hacker uses a hacked eBay buyer account that still has a connection to an active PayPal account to make purchases from the items listed by the hacked seller account.A hacker uses a hacked eBay seller account that has not migrated to eBay Managed Payments to list items and allows them to use a hacked PayPal account to accept payments.In a nutshell, here is how the scam works: And that is highly unlikely unless they are really stupid. If the hacked seller account had transitioned to eBay Managed Payments, eBay would know the identity of the hacker(s) as the only method for them to turn the scam into cash would be to transfer the funds to a verified bank account. With PayPal, it is easy to transfer funds quickly between accounts. Our explanation of this scam goes further than her reporting because we believe for this scam to work, the hacker has to have access to a hacked seller account that still accepts payments via PayPal. SMALL BUSINESS WEEK SPECIAL: Three tips for SMB ecommerce success in 2023.New stamp prices and fee increases are coming from USPS on July 9.Learn how you can save time writing engaging content faster with AI. ![]() ![]() Boost your social media engagement with Publer.Do you need a business bank account for your online business? Have a look at our review of the five best bank accounts for sellers, some of which are free with no minimum balance or deposits.There is no likelihood of the situation improving.Investigative reporter Deanna Dewberry from WHEC-TV, a Rochester, New York NBC affiliated local television station, reported on a scam last week involving hacked eBay accounts that not only hurt buyers but also could affect sellers. I don't have enough money to pay the staff and rent. But I have had to lay off one member of staff and if nothing improves then I cannot carry on on and the other two staff will lose their jobs. I can't see why I have been penalised like this. But last week it was over £12,000 and this week it is £2,700. I have a direct debit so they can take normally, which is fine. "They have tried to charge me for the items the hacker had posted on my listing. There have been one or two sales but nothing like the volume we would normally be doing this time of year. He said: "They immediately blocked my account. "We later found eBay had debited our bank account by around £14,000 for charges but they were unable to state what charges." We reported the hacking to eBay first thing on Friday November 5 and since then they have done almost nothing to help us. "Between 2pm and 8pm on November 4 our site was hacked by we believe an USA based hacker. We have sold our textiles on eBay for that length of time without trouble. But Phil said: "Bags-n-Aprons has been operating from the Nunsthorpe estate for some 11 years. ![]()
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