Paypal President David Marcus credit card gets hacked

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David Marcus, Paypal president is to be the latest person to fall victim to credit card fraud.

Marcus said on Monday that his Credit card data were compromised. The cybercriminals made several fraudulent transactions using the obtained information.

Marcus points out that his card using EMV technology which is being touted as a more secure system than magnetic stripe.  But that didn't stop the cybercriminals.

It seems like he did not want to waste this opportunity, he used this incident to promote his company's security benefits.  He said this breach would not have happened, if the merchant accepted Paypal. 

"Obfuscating card data online, on mobile, and now more and more offline remains one of PayPal's strongest value props." he said in twitter.

Paypal is claimed to be more secure and doesn't share card data or bank account details with merchant.  But, we reported that a hacker reportedly manipulate a paypal employee to get the last four digits of a card.
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