Earlier quoted context omitted.
> Yeah, and it requires me to use a U2F token, which I can loose, etc. In which case there are much safer recovery mechanisms available. For example, a second U2F token, or handwritten backup codes. > and SMS as a second factor seems like a perfectly reasonable balance. My point is that it isn't. Unfortunately, today, identity is a true privilege - it pretty much requires purchasing multiple U2F tokens, and that's su…
But that is my entire point. SMS as a second factor is purely additive. It cannot reduce security. There is pretty much no form of second factor that users are worse at passing than backup codes. Even if people print them out (few do), they won't find them when the emergency happens. You need some form of trust that can be bootstrapped again from scratch. For most of the world, SMS is it. The Nordic countries have th…
You are forgetting social engineering. Humans find it reassuring that the security process happened as usual, even if in fact the apparently "usual" process was them being being phished. This can mean they're actually less alert than they would be otherwise.
You get an urgent message from your bank about an unexpected $500 transaction, you follow the link & you need to enter your password as usual of course, and then it tells you that you'll get an SMS and to type in the code so you do so. Phew! Disaster averted! Right? This must have been real, you even got an SMS from the bank.
Alas the SMS was from your bank, and the bad guys didn't have a way to intercept it, but they didn't need one because you typed it into their phishing website. That unexpected $500 transaction wasn't real, but their emptying of your bank account will be.