I received the following and it looked very legit and even had the PayPal blue and white header/logo, etc. (I sent it to spoof@paypal.com and received a response that confirmed it was a spoof.) We cannot be too careful!

The text:

We Recently noticed one or more attempts to log in to your Paypal account from foreign IP adress and we have reasons to believe that your account was hijacked by a third party without your authorization If you recently noticed one or more attempts your account while traveling, the unusual log in attempts may have been initiated by you. However, if your are rightful holder of the account, Click Here to log into your account and follow the intructions

NOTICE: BEFORE YOU Click Here MAKE SURE YOU OPEN YOUR BROWSER WITH Microsoft Internet Explorer

If you choose to ignore our request, you leave us no choise but not temporaly suspend account
We ask that you fallow at least 72 hours for the case to be investigated and we strongly recomanded to verify your account in that time.

If you recived this notice and you are not the authorized account holder, please be aware that it is in violation of Paypal policy to represent oneself as another Paypal user.Such action may also be in violation of local, national, and/or international law. Paypal is misappropriate at the request of law enforment agencies to ensure that perpetrators are prosecuted to the fullest extent of the law.

Thanks for your patiance as we work togheter to protect your account.

Sincerly,
Paypal Review Department
Paypal Cooperation