by Karl Denninger, Market Ticker:
I have recently become aware of an utterly enormous fraud vector problem with both of these related (used to be that PayPal was owned by Ebay) sites.
On every reputable site around the Internet, no matter what it is, when you sign up for an account you have to verify that you own the email address that you give them before they will let you do anything.
That’s true everywhere. It’s true for banks. It’s true for forums like mine, Garmin’s or anyone else’s. It’s true in every instance I’m aware of; you sign up, you get a link in your email, you click the link which is only known to you and then, and only then, can you do anything.
Except with eBAY and PayPal.