PayPal Security Breach Freezes Billions in German Bank Payments

A failure in PayPal's security systems has resulted in a massive blockage of payments in Germany, potentially affecting over ten billion euros. The system's inability to filter fraudulent transactions led to unverified direct debits being submitted. Multiple German banks subsequently halted PayPal transactions, freezing funds for merchants. While PayPal claims the issue is resolved, the impact continues, with consumers urged to check for unauthorized debits.