Coinbase partnered with Microsoft and Europol to disrupt Tycoon 2FA, which enabled cybercriminals to harvest login credentials by bypassing multi-factor authentication.
The operation involved a combination of legal actions, infrastructure takedowns, and blockchain analysis to uncover how the phishing network facilitated credential theft.
The dismantling of Tycoon highlights the persistent threat of phishing attacks in the crypto sector, with significant financial losses reported from related cybercrime activities.
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