Coinbase, Microsoft and Europol dismantle global phishing-as-a-service ‘Tycoon 2FA’

In a major victory for global cybersecurity, a collaborative effort between Coinbase, Microsoft, and Europol has successfully dismantled the ‘Tycoon 2FA’ phishing-as-a-service (PhaaS) platform. This sophisticated operation targeted thousands of users by providing cybercriminals with ready-to-use kits designed to bypass two-factor authentication (2FA) using Adversary-in-the-Middle (AiTM) techniques. By intercepting session cookies and login credentials in real-time, the service allowed even low-skilled threat actors to compromise high-security accounts. The joint operation involved the identification and seizure of critical server infrastructure and the disruption of the platform’s primary communication channels. This takedown represents a significant disruption to the phishing ecosystem, highlighting the effectiveness of public-private partnerships in identifying and neutralizing complex cyber threats that target the digital economy.

Source: Coinbase, Microsoft and Europol take down phishing service ‘Tycoon 2FA’