PayPal users who have received email messages like the one below, which claim their PayPal account passwords have been entered incorrectly more than 5 times, are asked not to click on the link in the email message. This is because the link or button in the fake email messages go to a phishing website looking similar to PayPal's website, where visitors will be asked to sign into with their PayPal account. But, any attempts to sign into the fake PayPal website will send the visitors' PayPal credentials to the cybercriminals behind the phishing scam, who will hijack the accounts and use them fraudulently.
The "PayPal Your Password was Entered Incorrectly More than 5 Times" Phishing Scam
From: PayPal [wandawright@xtra.co.nz]
Sent: 21 July 2017 18:21
Subject: Message ID # 58541-4491106-38108
Dear
Your password was entered incorrectly more than 5 times.
Because of that , our security team had to suspend your accounts and all the funds inside.
Your account access and the hold on your funds will be released as soon as you verify your information.
Review Your Account Activity<hxxp://fatebear.com/r/>
We are sorry for this inconvenience but this is a security measure which we must apply to ensure your account safety.
If you have already confirmed your information then please disregard this message
Thanks for choosing Paypal
The Paypal Security Team
Copyright © 1999 - 2017 PayPal. All rights reserved.
This is why it is important that PayPal users remember never to click on a link to sign into their accounts. They should always go directly to www.paypal.com and sign-in from there instead. Once they have signed into their accounts will be notified of changes and other important updates if there is any.This will prevent them from becoming victims of phishing scams, where cyber criminals steal their credentials, hijack their accounts, steal their money, and use their accounts fraudulently.
PayPal users who have already been tricked by a phishing scam, are asked to change their passwords and contact PayPal immediately for help.