Ebay has started to inform customers who use a hardware key fob when logging into the site to switch to receiving a one-time code sent via text message. The move from the company, which at one time was well ahead of most e-commerce companies in providing more robust online authentication options, is “a downgrade to a less-secure option,” say security reporter Brian Kerbs. He writes: In early 2007, PayPal (then part of the same company as Ebay) began offering its hardware token for a one-time $5 fee, and at the time the company was among very few that were pushing this second-factor (something you have) in addition to passwords for user authentication. I’ve still got the same hardware token I ordered when writing about that offering, and it’s been working well for the past decade. Now, Ebay is asking me to switch from the key fob to text messages, the latter being a form of authentication that security experts say is less secure than other forms of two-factor authentication (2FA). The move by Ebay comes just months after the National Institute for Standards and Technology (NIST) released a draft of new authentication guidelines that appear to be phasing out the use of SMS-based two-factor authentication.
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