Not TOTALLY convinced this is a scam - the link seems genuine, unlike the various scams I've seen in the past. However the best advice under these circumstances is to log into your account as usual, i.e. NOT via the email link. And it is better to be safe than sorry. If you e-mail PayPal and get a response, please share with us. In general, if I ever received something like this which MIGHT be genuine, I would still log in to my account normally and NOT follow any links in the email. The other thing to check regularly is that nothing has 'tweaked' your HOSTS file (<windows directory>\system32\drivers\etc\hosts) to add a false IP address for
www.paypal.com (or any other site) - that's the REAL danger!