I worked for a company that went bankrupt due to sudden massive fraud using stolen credit cards on PayPal, that all went to chargeback which also inflicted a $2

I worked for a company that went bankrupt due to sudden massive fraud using stolen credit cards on PayPal, that all went to chargeback which also inflicted a $20/chargeback fee from PayPal. They were something like $6000 in debt to PayPal in chargebacks and fees when they just folded. PayPal does not protect you from stolen cards, at least they'd didn't back then (5 years ago maybe?)