PayPal Users Receive FAKE Emails Warning Of Cryptocurrency

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Some PayPal users reported to have received official-looking emails, warning about using their accounts for cryptocurrency trading. The email sent this week, demand that users “cease any activity that results in the trading or transfer of crypto currency.”.

The email states that “While reviewing your account, we noticed that your activity involves the trading or transfer of crypto currency which is prohibited under our Acceptable Use Policy. As this is not permitted on the Paypal platform we ask that you cease any activity that results in the trading or transfer of crypto currency. If you continue to engage in this activity on Paypal, we’ll be unable to continue offering our services.”

One of the PayPal users, who received such message, was David Veksler of The Atlanta Bitcoin Embassy. Mr Veksler contacted PayPal despite the fact, that he never used the account for cryptocurrency trading. PayPal’s support commented that the email does not appear to be legitimate and that mr Veksler’s account hasn’t been flagged by the company.

No official statement

PayPal had not released an official statement yet. There is no mention of cryptocurrency in PayPal’s policy or a prohibition of it. The issue is marked as “solved” on PayPal’s community page and users confirm that they received a similar reply. The email is indeed fake.

What is interesting, is that the email DOES look real in every way. It includes a correct name and is sent from an official company’s email address. Whoever did spoof the message, appears to have done their homework.

EDIT: The fake email message seems to have been yet another attempt at cryptocurrency price manipulation:

Did you receive such email? Let us know in the comments below!

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