05 Dec Info of 1.6M Customers Compromised in PayPal’s TIO Networks Breach
TIO Networks, a payment processor recently acquired by PayPal, revealed last week that it will be suspending operations due to a hacking incident that involved the theft of personal identifiable information (PII) of its 1.6 million users.
TIO was bought by PayPal in July 2017 for $238 million, but has not yet integrated the platform into its business. PayPal says that it has not been affected by the breach, but it is currently conduction investigations on TIO’s issue with a third-party cyberforensics company.
PayPal has also enrolled users affected by the breach to a free 12-month subscription to Experian’s credit monitoring.