PayPal President David Marcus Credit card Hacked - BestCyberNews: Online News Presenter in the present world

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PayPal President David Marcus Credit card Hacked

PayPal President David Marcus credit card information compromised, The leader of the online payments company revealed via Twitter that his credit card information had been stolen on a trip to the United Kingdom and he’d racked up a “ton” of fraudulent transactions on his account.

Marcus noted that his credit card had EMV chip technology, a more secure system currently in use in Europe. But that didn't stop the data from being stolen and used for a "ton of fraudulent" transactions.

Beginning in October 2015, the US will become the last major market to shift to EMV, and retailers will replace the old swipe machines with a slot to enter a card and pin number.


A “skimmer” is a digital swiping device that can be attached to a legitimate point-of-sale machine where the hacker secretly uses his own hardware to steal debit or credit card information.



Marcus said via Twitter used his stolen data for a “ton of fraudulent” transactions. He also used the microblogging social network to tout PayPal Inc.’s security benefits, saying that if the merchant had instead accepted PayPal as a form of payment the breach would not have happened.



Author Venkatesh Yalagandula Follow us Google + and Facebook and Twitter

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