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The Wall Street Journal reported yesterday that the PayPal app for the iPhone contained a critical security flaw that could provide hackers with a way to intercept user passwords when the app is used over an unsecured Wi-Fi network.

The security flaw was identified by a firm that specializes in computer and mobile security, viaForensics, who found that the app would not verify the authenticity of the PayPal site before exchanging user information. While it would require special equipment, software, and patience for a hacker to exploit the flaw, the vulnerability was severe enough to prompt PayPal to take immediate action.

The update to the PayPal app that addresses this security flaw hit the App Store late last night and we recommend that you download it as soon as possible to avoid remaining vulnerable to hackers.

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  PayPal

  Last Changed:

  3 weeks ago

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  3.00 (91)

  Version:

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  iOS iPhone

  Enjoy PayPal on-the-go with the PayPal iPhone app. SEND & REQUEST MONEY Whether you want to send a money gift or pay off a loan from a friend—sending money is easy and FREE (when using...