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Fake "Cryptocurrency warning" from PayPal?

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Fake "Cryptocurrency warning" from PayPal?

I just got this email from PayPal:

 

"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."

 

It appears to be really from PayPal.  However, I've never engaged in any cryptocurrency trading on PayPal, so I have no idea why I got it, or what activity I'm supposed to stop.  I do use PayPal a lot, so I'm afraid my normal (non-crypto) usage is going to get me banned. 

 

What should I do?  I have no idea what activity PayPal is objecting to.

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New Community Member

Re: Fake "Cryptocurrency warning" from PayPal?

I just got one of these as well.  I never bought or sold crypto using PayPal so they need to explain themselves quickly or I'll just move to another payment provider. 

 

Edit:  Just got off the phone with Paypal, they do not send emails out from a <removed> address and upon a closer look the l in paypal.com looks to be a capital i.  They asked that I forward the email to spoof@paypal.com.

4 REPLIES
New Community Member

Re: Fake "Cryptocurrency warning" from PayPal?

I just got one of these as well.  I never bought or sold crypto using PayPal so they need to explain themselves quickly or I'll just move to another payment provider. 

 

Edit:  Just got off the phone with Paypal, they do not send emails out from a <removed> address and upon a closer look the l in paypal.com looks to be a capital i.  They asked that I forward the email to spoof@paypal.com.

Re: Fake "Cryptocurrency warning" from PayPal?

Update: PayPal phone support confirmed the email is fake.  

 

This is a sophisticated attempt to manipulate the price of Bitcoin.

Contributor

Re: Fake "Cryptocurrency warning" from PayPal?

I received the same email and was kinda concerned. What really threw me off is that the email contains the full name on the pay pal account. This is the best spoof email I've ever seen, looks very professional and legit. No links to click or anything. How do they get the name on the account? Guess it is public kinda.

 

I do sell cryptocurrency ebooks and content, thought that might have been the reason why, some trigger/filter.

 

After reading this, I also called just to make sure my account wasn't going to get limited or turned off. Doesn't hurt to double check. They verified there was nothing wrong with my account, no notes.

 

Pretty sophisticated.

KT4 New Community Member
New Community Member

Re: Fake "Cryptocurrency warning" from PayPal?

I also received it. I don't use PayPal for crypto but I have bought crypto (by other means). So how did this spoof get email addresses of people who are actually involved in crypto? Did they hack an exchange? This is disconcerting.