While we are starting to see newer payment options surfacing like Apple Pay, 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 extremely questionable platform known as PayIvy is allowing individuals to purchase stolen credentials with it.
A security researcher recently spotted 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't smart to purchases a stolen Paypal account with a Paypal account, it does appear to be possible here.
As you're likely imagining, Paypal doesn'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.
Like many of these dodgy platforms, it is isn'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's hard to imagine it lasting very long.