Updated 06/11/12: Hacking group Anonymous claimed to have leaked 28,000 Paypal passwords as part of an organised protest on Bonfire Night
PayPal has since contacted T3 with a statement discrediting the attack, which was in fact aimed at a different company.
“It appears that the exploit was not directed at PayPal after all, it was directed at a company called ZPanel," said a spokesperson for PayPal.
"The original story that started this and was retweeted by some of the Anonymous Twitter handles has now been updated.”
Other sites in the firing line over the last 24 hours have included the Australian government, security firm Symantec and a fan site for pop singer Lady Gaga.
The apparent Paypal passwords appeared as a link on Twitter but were quickly taken down.
"Our first priority is to make sure that any customer information remains protected," Symantec said in a statement.
Anonymous also appeared to be taking issue with surveillance companies after a video posted on YouTube urged members to unite against companies like Trapwire and Indect.
The numerous hacks were timed to coincide with Bonfire Night and Anonymous has already threatened to release confidential data held by games developer Zynga.
In honour of the Gunpowder Plot, Anonymous has adopted the Guy Fawkes mask made famous in the 2005 movie V for Vendetta.