I briefly logged onto their IRC channel. It is a total chaos but still they all agree to one target. They have also been hammering www.paypal.com port 443 so I expect this to do down soon too.
What in the world does the SSL connection have to do with anything? Surely it's the same web servers that are getting swamped, regardless of whether the incoming traffic is clear or SSL.
Sure, payments processed through their API might be different servers. But that's a completely different question than whether the traffic is clear or SSL.
Whatever they're doing, its not having much effect. I used PP last night, and again this morning. What I saw felt normal. Last night there was briefly some slowdown, but nothing of that this morning. Hammering a lesser web site could bring it down, but PP has been in the net facing business for enough years they know better.