How do I know this is not a Spoof email? Spoof or 'phishing' emails tend to have generic greetings such as "Dear PayPal member". Emails from PayPal will always address you by your first and last name. Find out more here.
I have just responded to Paypal explaining that it would take an average shell programmer five minutes to write a script with a simple regular expression to start an email with "Dear Fred Bloggs" if that email was being sent to "email@example.com" and thus having the recipient's name at the top is NO proof of authenticity.
Does anyone else not find this totally astounding that a company handling people's money can make such a brash & ludicrous statement?