The only time you will ever receive a paypal confirmation code, is when you have tried to access Paypal. If you have not and you receive a code, someone else is trying to hack you. Never reveal a confirmation code to anyone. It is for you and only you. My engineer did some research and found articles on Reditt that this particular scammer has been active for a year, several people have been scammed and both Instagram and Paypal have done nothing. I found another example of this scam documented on the unbanster.com site.
Thus far, my engineer has had no response from Instagram or Paypal about this fraud. When will these social media platforms start taking these issues seriously. Users who commit fraud are clearly no asset to the brand. So finally, a reminder. Do not share confirmation codes.