PayPal shuts 4.5mn accounts due to “bad actors” Shares tank to lowest pandemic levels

Popularity of Paypal (PIC) ~ AmazinggArts

PayPal have confirmed they closed 4.5mn accounts after uncovering “bad actors” exploiting their rewards system, after a poor last quarter of 2021 saw investors dump stock for the company to post 19% losses in premarket trading.

Bot farms reportedly hoovered up countless $10 incentives designed to encourage new customers to sign up.

Shares tumbled a record 25% at 9:42am New York time – their biggest fall on record – after a poor earnings report alarmed Wall Street traders.

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