PayPoo Boycott

[SurferJoe46]

If all it takes is a viable threat, can this be a problem for PP or not? If security and creditability are missing, who's gonna use it any more?

Anonymous, LulzSec vs. PayPal:
.......eBay's cash cow in the crosshairs of Anonymous and LulzSec - have declared war on eBay’s PayPal with a boycott of the payment service and the fallout could have some real financial implications.

CBS News Video Link: http://www.cbsnews.com/video/watch/?id=20080685n

In a post on PasteBin, Anonymous and LulzSec took aim at the FBI, which has reportedly been working off a PayPal list of up to 1,000 IP addresses. The FBI launched a cross-country raid of alleged attackers and netted a few arrests.

Not surprisingly, Anonymous and LulzSec are urging a legal boycott of PayPal. The groups said:

In recent weeks, we’ve found ourselves outraged at the FBI’s willingness to arrest and threaten those who are involved in ethical, modern cyber operations. Law enforcement continues to push its ridiculous rules upon us - Anonymous “suspects” may face a fine of up to 500,000 USD with the addition of 15 years’ jail time, all for taking part in a historical activist movement. Many of the already-apprehended Anons are being charged with taking part in DDoS attacks against corrupt and greedy organizations, such as PayPal.

The antisec groups then urge folks to close down PayPal accounts. “PayPal’s willingness to fold to legislation should be proof enough that they don’t deserve the customers they get. They do not deserve your business, and they do not deserve your respect,” said LulzSec and Anonymous.

Clearly, Anonymous and LulzSec have moved from hacktivism to activism and if successful a PayPal boycott is going to hurt eBay. Why? Three reasons:

PayPal represents eBay’s growth.
PayPal is eBay’s cash cow.
And PayPal is being used as the bridge between e-commerce and the brick-and-mortar variety. In many respects, the glue between mobile, social, Web and retail is PayPal. In fact, eBay’s recent second quarter results could be boiled down to one word: PayPal.

The worry for Paypal was put in perspective at the end of the article.

"Simply put, payment systems are a lot like banks. They only function if theres confidence in the model and security."

If Anonymous & LulzSec can successfully compromise people's confidence in using Paypal. People will look for alternative services. Paypal can't afford to be complacent here. Their security procedures and protocols have probably never been under greater scrutiny.

LINK::: Anonymous, LulzSec vs. PayPal: eBay's cash cow in the crosshairs | ZDNet

[Absentia]

Palpal's security has been laughable since the start.

[i_got_a_mohawk]

If someone produces security software, someone else will find a way around it.

[charlie monroe]

Originally Posted by Absentia

Palpal's security has been laughable since the start.

I'm not sure that this is a question of security, but rather one of ethics.

The objection is that PayPal is too quick to work with authorities, and thus betrays their customer base.

[Longhair]

Time to buy something with my PayPal balance before hackers make it disappear.

[MatticusMania]

Ive been boycotting PayPal for a long time, Anonymous jumped on my train...