Just got one of these, myself. Paypal DOES use this number for sending MFA codes. The thing is, Paypal clearly doesn't own or operate the number directly, they just use a notification service (like Amazon SNS) to send the messages on their behalf. It appears that someone figured out what service Paypal uses for SMS notifications and decided to use that same service to send scam messages impersonating Paypal. You should not trust any messages from this number as it's clearly been compromised.
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