We saw which companies’ two-factor authentication was getting bypassed the most and compiled a list before grouping these companies by type.Ħ0.66% had been sent within a 24 hour period. We compiled this data and then analyzed it. We went through 10 of open SMS websites and gathered over 20,000 texts (22,598 to be exact). We were curious what companies had their 2FA bypassed the most often, so we decided to do an investigation. Here at RingCaptcha, we guard against popular open SMS websites that give easy access to disposable SMS numbers. However, the extent to which 2FA successfully reduces fraud depends heavily on how companies providing the phone verification services guard against loopholes such as open SMS websites (disposable SMS phone numbers) that offer temporary numbers for free. It’s a well-known fact that fraud rates diminish when phone-based verification is required online. Recently, more and more platforms have been adopting two-factor authentication (2FA) to reduce fraud, with SMS two-factor authentication being the most common form.
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