Coinbase, Microsoft, Europol, and others joined forces to shut down the phishing platform Tycoon 2FA and seize 330 domains.

According to Mars Finance, market sources indicate that Coinbase, in conjunction with Microsoft, Europol, and over ten other organizations, successfully shut down the phishing-as-a-service platform Tycoon 2FA and seized 330 related domains. Since its launch in August 2023, Tycoon had approximately 2,000 users, operated over 24,000 domains, and sent tens of millions of fraudulent emails monthly to over 500,000 businesses worldwide. It bypassed multi-factor authentication by stealing session cookies and tokens, primarily targeting email and online service accounts such as Microsoft 365, Outlook, and Gmail. In this operation, Coinbase assisted in tracing the crypto payments that funded Tycoon's operations and supported the civil lawsuit regarding the seized domains. The lead developer has been identified as Saad Fridi, a Pakistani national.