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> An attacker not only needs your username and password

Usernames and passwords are leaked all the time. Many users even re-use these across multiple services.

> they also need physical access to your key.

With enough practice, a motivated actor could make it seamless enough that you don’t notice. Or stalk the target to find a weak point in schedule and give attacker enough time to perform EUCLEAK. We are creatures of habit after all.

> And if your token is lost or stolen, you have to manually revoke every single one.

I agree here. No way to easily track. I have to make a manual note for each service in password manager.




> Usernames and passwords are leaked all the time. Many users even re-use these across multiple services.

I’d wager that people using TOTP tokens like the YubiKey are more likely to use password managers.




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