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Again, see the post by MaxGabriel at https://news.ycombinator.com/item?id=42629109 where he explains how this measure actually defeated that particular pihishing/MITM attack.

The attack wasn't that the attacker has my second factor, the attack was that the attacker tricked me into verifying a single login/transaction using my two factors, on their behalf.

They probably judged that the inconvenience of the verification email affects few enough users that it is worth it. Most users don't switch IP addresses very often. And those that do, probably don't all clear their cookies after every session.

Adding SMS in addition to email would be obviously useless, as you point out.



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