Truth is, I do not have any paypal account using the email address they sent me.
In the email all they want you to click the button (red flag) which says, Confirm my account. The url is below, which I guess have something to do with taking your information. Warning: Do not visit the link
Code:
http://krteam.us/id5456/media/system/index.php
The main domain krteam[dot]us (archive)
There were another red flag which is the sender email address.
Code:
The domain is adelaide[dot]edu[dot]au which belongs to university of Adelaide Australia.
I know this kind of approaches are not something new however I believe this post will help people who never had this experience before.