This to me seems to be a complete misunderstanding of the telcos business and motivations. They sell mobile telephony - voice, sms, and data - and their _prime objective_ is to make it as easy as possible for their customer to spend as much money doing that as possible. Making you wait five days to get reconnected to "your number" when you have, for whatever reason, lost control of it is just not going to happen. They'll move mountains to get you back onto your data/voice plan before you've walked out of the store.
Nobody ever advertised their phone/sms plans as "banking grade secure". Telcos have been telling us for years that they are explicitly _not_ secure for that:
https://www.itnews.com.au/news/telcos-declare-sms-unsafe-for...
Communications Alliance chief executive John Stanton, representing the interests of mobile providers Telstra, Optus and Vodafone, took the extraordinary step of of declaring the technology insecure in the wake of numerous reports of Australians being defrauded via a phone porting scam first uncovered in Secure Computing magazine.
"SMS is not designed to be a secure communications channel and should not be used by banks for electronic funds transfer authentication," Stanton told iTnews this week.
Telcos are not interested in securing that, they get _way_ more complaints from people who lost/broke their phone who want their replacement one to work RIGHT NOW, than they do from people who got defrauded with a sim porting attack. And the first group of people are spending _way_ more money collectively than the second, so of course telcos will continue to make it quick and easy to sim port.
Everybody else needs to deal with that. While sms 2FA is marginally better than not having any 2FA at all, it's not the telco's problem if you choose to use it to "secure" your $100k worth of crypto. In my mind, a large part of the blame here goes to COinbase for even offering it. I'm also looking at your PayPal...
This is pretty easy for the telco to prevent, though. Your existing telco should simply phone you and ask if you wish to leave them before letting the number get ported out.
Note that all telcos will prevent the number being ported out if you owe them any money on the account.
Wait really? Is there a way to force yourself to perpetually owe them a small amount of money then? Could be really worth the money.
The comment you replied to appears to be discussing porting a number to a different provider which is very different and doesn't happen same-day.
I used to believe this too. Until this morning. Then I realized something and now I'm not so sure: if I don't have SMS 2FA at all, then my phone line is less to become an attack target. Meaning I'm less likely to have to deal with the collateral damage of lost accounts, files, etc. So is it really better to have that SMS 2FA? Especially if you weren't ever having problems securing your stuff before it came along?
Funny because that's exactly what happens in France when you do so. I must have sounded a bit dumb when I asked when my number would be active when I changed from Tello to Verizon. I couldn't believe it was effective right away.
Yes! Many password managers (at least KeePassXC/KeePass with plugin) can store and create TOTPs. The underlying keys can be manually shown and entered elsewhere if needed, and can be backed up with everything else that's valuable.
> Print out 2-factor backup codes, put them somewhere safe, maybe split them in 2 and put half of the codes in one place, and half in another. Think through possible problems. It really sucks to have your house flood, then find out that your phone with the 2-factor app on it was destroyed, and your backup codes ruined as well...
Off site and offline backups are a good thing to have, especially with fire and water proof lockboxes. (think encrypted external drive lying around at work or at family/friend's house)
Personally I don't really like this feature and urge people to avoid it for "high security accounts".
It's not a "second factor" if it's stored and input using the same device and authentication information as your "first factor" (your username and password).
That's not to say it's useless, at the very least it's another layer that attackers have to figure out. But the true benefits of 2FA come from needing multiple devices to access accounts. If all of the factors are stored in one program on one device, then in the situation where that device/program is cracked, the attackers have everything.
Still, if you are going to choose between no 2FA and "2FA stored in your password manager", choose the password manager! And if you are going to choose between SMS-2FA, and the password manager, choose the password manager! But if you really want better security for not much more work, store your 2FA on a different device!
I feel you're not portraying the trade-off accurately so I'll try to clarify.
It's not merely better because it's just "another layer to figure out". That's what you would get with 2 passwords. It's not what you get with 1 password + 1 OTP.
With OTP you're protected against your password being logged and used later on e.g. an untrusted or breached machine (say, at a library). I'd hazard to guess that dealing with a passive adversary who's time-separated from you is FAR more common/likely than having your actual password database stolen or cracked somehow. Meaning it's still quite a significant benefit to having OTP.
Authy, from what I understand, requires a phone number as backup, meaning it could be compromised by the same method
Google authenticator can't be backedup, which is royally annoying when you change/lose devices
Lastpass has some security issues, and one well known comment here has recommended no one use it.
I heard someone say they use Duo security: does that let you store codes? When I looked it just seemed to lock various services
Every account I have setup with TOTP I also make sure to print out the recovery codes and put them in a safe, and use them if my device is ever destroyed. When I switch phones (which for me happens maybe once every 2-3 years at most), I go through the shitty process of transferring the TOTP codes over to the new device, but it doesn't really take all that long (it took me an hour to do it for about a dozen accounts last time I did it), and I'd much rather not have any of it uploaded anywhere.
You can print out the QR code or save that somehow during setup and use that to setup TOTP codes on other devices (or the same TOTP on multiple devices), but I tend not to do that as recovery codes work just as well, and they notify you if they are used (unlike a TOTP setup QR code). I did have to store the QR code for one account that doesn't provide recovery codes, but it's overall not that much extra work.
As a bonus, the backup is just an encrypted sqlite DB (with dirt-simple schema), so you're not tied to some inscrutable proprietary format, and can easily extract the tokens if you want to use a different app/service.
Means I don't have to worry about phone upgrades and such, and if the Yubikey were to stop working I still have it on my phone
I have this in case my yubikey ever dies and takes my totp codes with it.
So many people don't seem to understand this - I was trying to use U2F yubikeys on gitlab a while back only to discover they force you to enable 2FA first for account recovery, this completely defeats the purpose of hardware auth, it's not supposed to be for convenience, security is only as strong as the weakest link, 2FA is very weak.
+1. I lost a phone and with it my Cloudflare 2FA. For some reason, Cloudflare won't let you contact tech support without logging in. There is no contact info for support on their website, AT ALL, so if you can't log in, you're fucked.
Unfortunately, when you search on Twitter, people are going bananas over having to wait a few days to get their Apple account reset... so I definitely get why not more companies are doing this.
Want to port a SIM? I'll put your request in now but it will wait for 5 business days before it happens, and at any point if you or someone claiming to be you calls up to stop it, we stop it, no questions asked.
Want to change 2 factor information for an account? We can put in the request now and it won't take effect for a week while we reach out to you using every communication method we know how to let you know it's happening and give you ample time to stop it if you discover it wasn't actually you that did it.
It seems like a fairly "low cost" way of upping the security quite a bit.
Also, not to make the OP feel worse, but Coinbase even offers a service like this called the "vault". The idea being that withdraws are time-locked for a specific amount of time, and there are multiple ways to stop it during that time lock, even if you got locked out of your account entirely.
And while we are doing PSAs, I'd like to give one piece of seemingly conflicting advice: make sure you have backups of your multi-factor authentication systems.
Sure, having your accounts taken over is awful, and it can happen to anyone, but something just as bad is losing your 2-factor systems and being locked out of accounts with no way to recover them.
Print out 2-factor backup codes, put them somewhere safe, maybe split them in 2 and put half of the codes in one place, and half in another. Think through possible problems. It really sucks to have your house flood, then find out that your phone with the 2-factor app on it was destroyed, and your backup codes ruined as well...