1.6 million customers' personal details stolen by hackers

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Those payments were processed by TIO Networks, which was hacked in an attack disclosed after the company was purchased in July by PayPal Holdings Inc.

That company, TIO Networks, was taken over by PayPal last summer.

Among customer information possibly exposed, according to a PayPal spokesman, were names, addresses, bank account details, Social Security numbers and details of login information used to pay bills.

PayPal has revealed that its recently acquired company TIO Networks has suffered a data breach compromising the personal information of 1.6 million customers.

In total, up to 1.6 million customers may have had their information leaked, which could include personally identifiable information (PII) or potentially financial data.

Fortunately, we don't have to lunge for our PayPal accounts this time around: PayPal says that TIO systems are separate from its own.

PayPal bought TIO Networks for $238 million in February.

On November 10, PayPal announced that it suspended TIO's operations after it discovered security vulnerabilities in the firm's platform and issues with its data security program that "did not adhere to PayPay's information security standards".

As you may know, these data breach issues are nothing new.

PayPal has also promised to offer free credit monitoring memberships to all affected customers of TIO Networks, aside from working with all companies that the latter serves to identify and notify affected customers. Duke Energy customers make up almost a quarter of the 1.6 million TIO Network customers potentially compromised. We sincerely apologise for any inconvenience caused to you by the disruption of TIO's service, ' said TIO Networks in a statement.

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