On Tue, 10 Apr 2012 22:10:01 -0400
Jeffrey Walton wrote:

> Two factor authentication using a cell phone was recently broken:
> "Two-channel breached: a milestone in threat evaluation, and a floor
> on monetary value",
> http://financialcryptography.com/mt/archives/001349.html

That's not broken. If you don't use it as "Two Factor" aka defense in
depth then your just using it badly. "Two network" auth is how it should
be used but it still adds some defense even when incorrectly used just
on the phone as you'd need to either locally sniff sms traffic likely
requiring permissions bypass or decrypt the sms traffic in the air or
hack the Telcos network. All easier than you would think but still
it does add to security and in the face of single sign-on systems.

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