PayPal patches hacker hole in iPhone application: report

PayPal has rushed out a patch for a flaw in its iPhone application that could let hackers access accounts at the online financial transactions service, The Wall Street Journal reported Wednesday.

The flaw only affected people that used PayPal applications on iPhones connected to the Internet through unsecured Wi-Fi networks, according to the Journal.

A hacker would have needed to intercept PayPal transaction data by using commonly available gear to get between an iPhone and the Wi-Fi hotspot.

PayPal told the Journal it knew of no accounts compromised by the flaw, which was fixed on Wednesday.