This scam is titled from "[email protected]" and looks similar to this:

It is always best practice if in any doubt, to look on your account via normal means (I enter PayPal via Ebay as safe); it will show any legitimate issues, not scams. NEVER click on such links via emails, etc.
I was alerted initially via the fact of the "click to cancel" button as you never get them normally, and the fact the link was to an obscure site - obviously phishing site.
When I phoned PayPal they also confirmed you never get "dear PayPal user" you always get the name.
This scam is better than many, hence this post - i'm sure many trusting people (rather than sceptical like me) will fall for this scam.