Tycoon 2FA Phishing Kit Attacking Microsoft 365 & Gmail Users

Hackers use 2FA (Two-Factor Authentication) phishing kits to overcome the additional security layer provided by 2FA. 

These kits typically mimic legitimate login pages and prompt users to enter their credentials along with the one-time passcodes generated by their authenticator apps or sent via SMS.

Through proactive threat hunting, Sekoia analysts uncovered a new and widespread Adversary-in-The-Middle (AiTM) phishing kit called Tycoon 2FA in October 2023. 

This Phishing-as-a-Service (PhaaS) platform has been actively used by multiple threat actors since at least August 2023 to conduct effective phishing attacks. 

Continuous monitoring revealed Tycoon 2FA as one of the most prevalent AiTM kits, with over 1,100 associated domains identified between late October 2023 and late February 2024.

Technical Analysis

Phishing using QR codes increased in October 2023. Many AiTM phishing pages shared similarities like:- 

  • Deobfuscated scripts
  • CloudFlare Turnstile for protection
  • Specific CSS resources
  • WebSocket for data exfiltration
Email attachments redirecting users to Tycoon 2FA phishing pages (Source – Sekoia)

Using urlscan.io, researchers identified hundreds of similar phishing pages in October 2023 by searching for specific CSS filenames.


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The pages retrieved resources from codecrafterspro[.]com, which appeared central.

Other associated domains like codecrafters[.]su and devcraftingsolutions[.]com hosted phishing resources with a “Powered by TycoonGroup” login panel. 

The tycoongroup[.]ws domain promoted Tycoon as the “best 2FA bypass phishing platform”, linking this infrastructure to the Tycoon 2FA phishing platform.

Login page of Tycoon 2FA administration panel (Source – Sekoia)

Researchers analyzed the victim-facing interactions without access to Tycoon’s source code.

It uses AiTM, with an attacker server hosting the phishing page, relaying inputs to the legitimate service, prompting MFA, and capturing session cookies after successful MFA. 

The stolen cookies allow bypassing MFA by replaying the session, even if credentials were changed. The key operations of Tycoon are outlined below.

Main operations specific to the Tycoon 2FA phishing kit (Source – Sekoia)

There are a total 7 stages and here below we have mentioned them:-

  • Stage 0 – Spreading phishing pages
  • Stage 1 – Cloudflare Turnstile challenge
  • Stage 2 – Email extractor
  • Stage 3 – Redirection page
  • Stage 4 – Fake Microsoft authentication login page and sockets
  • Stage 5 – 2FA relaying
  • Stage 6 – Final redirection

The Tycoon 2FA phishing kit harvests credentials via fake Microsoft pages, with a C2 server collecting data over WebSockets.

The latest version added stealth tactics like only providing malicious resources after solving a CloudFlare challenge, using randomized URLs, and filtering traffic to evade analysis. 

While previous versions used characteristic filenames for core functionality, the new changes make tracking more difficult. 

However, Sekoia found heuristics correlating legitimate resource names, C2 response data size and resource lengths to continue monitoring the evolving Tycoon 2FA infrastructure.

Tycoon 2FA became widespread, and the developer enhanced stealth capabilities in the recent version.

With its ease of use and low price, it gained popularity among threat actors. 

Sekoia identified over 1,200 associated domain names since August 2023 and believes the Tycoon Group operations are highly lucrative, expecting Tycoon 2FA to remain a prominent threat in the AiTM phishing market in 2024.


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Cryptocurrency Wallet Address

  • 19NReVFKJsYYCCFLq1uNKYrUqQE2bB4Jwx used by Saad Tycoon Group

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