According to new information that has come to light, the data breach of TIO Networks, a subsidiary of PayPal, reportedly affects 1.6 million of the company's customers.
PayPal confirmed that TIO Networks suffered a security breach, releasing more information about the attack on Friday.
[su_note note_color=”#fcfcd8″ text_color=”#494134″ radius=”1″]TIO Networks, a Canadian company that operates a network of more than 60,000 payment and electronic transaction points (kiosks) across North America, was recently acquired by PayPal for $238 million.[/su_note]
On November 10, PayPal suspended operations of TIO Networks due to the discovery of vulnerabilities in TIO's platform, as well as various other issues in the company's data security program, which did not comply with PayPal's security standards.
“We apologize for any inconvenience this service interruption may cause, but the security of TIO’s systems and the protection of our customers are our highest priorities. We are working with relevant authorities to protect TIO customers. PayPal’s platform is not affected in any way by this situation and customer data remains secure,” TIO Networks said in a statement.
“Our investigation is ongoing. We will communicate with TIO customers and partners immediately as we have more information.”
The Canadian company disclosed the data breach early last month, but did not provide any additional information.
On Friday, December 1, PayPal came back with more details about the breach
“Analysis of TIO’s network revealed a potential breach of personal data for 1.6 million customers,” the company said in a press release. “PayPal’s platform is not impacted at all, as TIO’s systems are completely separate from the PayPal network and PayPal customer data remains secure.”.
PayPal confirmed that attackers managed to steal personal information from TIO customers, but the company declined to disclose what kind of information was exposed. According to reports, the attackers gained access to personally identifiable information (PII) and financial data.
PayPal has already notified affected customers about the data breach, offering them free security and transaction protection services.
TIO Networks customers can visit the company's website for more information about the data breach.
