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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