A new black market site is helping users fence stolen accounts and software licenses via Paypal

By Justin Kahn ยท 5 replies
May 7, 2015
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  1. [parsehtml]<p><img alt="payivy paypal " src="https://www.techspot.com/images2/news/bigimage/2015/05/2015-05-07-image-6.png" /></p> <p>While we are starting to see newer payment options surfacing like <a href="https://www.techspot.com/search/?cx=partner-pub-7395890353660701%3Aj5claj-6kfy&amp;cof=FORID%3A11&amp;ie=ISO-8859-1&amp;q=Apple+PAy">Apple Pay</a>, Paypal is still a popular way to pay for things online. Whether its electronics on eBay, or flights and hotels on Travelocity, Paypal is there for anyone who would rather use it over a credit card. And now, the&nbsp;extremely questionable platform known as PayIvy&nbsp;is allowing individuals to purchase stolen credentials with it.</p> <p>A security researcher <a href="http://krebsonsecurity.com/2015/05/payivy-sells-your-online-accounts-via-paypal/">recently spotted</a> several sellers on PayIvy fencing stolen good credentials, Paypal/Minecraft/Netflix/Hulu accounts, software licenses and more. All of which can be purchased with Paypal. While it likely isn&rsquo;t smart to purchases a stolen Paypal account with a Paypal account, it does appear to be possible here.</p> <p>As you&rsquo;re likely imagining, Paypal doesn&rsquo;t usually just allow things like this to happen for very long and will more than likely make a move to shut it down soon. Even if that does happen, it appears the service accepts much more black market friendly currencies like Dogecoin and Bitcoin.&nbsp;</p> <p>Like many of these dodgy platforms, it is isn&rsquo;t interested in the legality of what its users are doing on there. While it appears that it is just a matter of time before both the Paypal functionality and the entire marketplace get torn apart, PayIvy is just the platform and is apparently not doing anything wrong. We have seen this before with other questionable services that simply accommodate their user base without actually getting their own hands dirty. Whether or not PayIvy gets shut down, only time will tell, but it&rsquo;s hard to imagine it lasting very long.</p><p><a rel='alternate' href='https://www.techspot.com/news/60607-payivy-open-web-marketplace-stolen-account-credentials-license.html' target='_blank'>Permalink to story.</a></p><p class='permalink'><a rel='alternate' href='https://www.techspot.com/news/60607-payivy-open-web-marketplace-stolen-account-credentials-license.html'>https://www.techspot.com/news/60607-payivy-open-web-marketplace-stolen-account-credentials-license.html</a></p>[/parsehtml]
  2. cliffordcooley

    cliffordcooley TS Guardian Fighter Posts: 9,715   +3,696

    I wonder how long it will take before Paypal is forced to ban the site.
  3. wastedkill

    wastedkill TS Evangelist Posts: 1,423   +350

    You forgot to add the article where google allows you to find child porn, revenge porn and illegal downloads etc.

    If you stoop this low atleast add google to the mix.
  4. Hexic

    Hexic TS Maniac Posts: 333   +164

    I'll give it a month before PayPal shuts it down.
  5. People are pathetic.

    BTW, lend me your wallet for a minute.
  6. H3llion

    H3llion TechSpot Paladin Posts: 1,376   +286

    but it's up to the website to decide what they can ban. Adding a blacklist for a website such as this is much easier than filtering certain content in search engines.

    Not sure how this is relevant anyway.

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