Cybercriminals have been increasingly using a new phishing-as-a-service (PhaaS) platform named 'Tycoon 2FA' to target Microsoft 365 and Gmail accounts and bypass two-factor authentication (2FA) protection. Tycoon 2FA was discovered by Sekoia analysts in October 2023 during routine threat hunting, but it has been active since at least August 2023, when the Saad Tycoon group offered it through private Telegram channels. The PhaaS kit shares similarities with other adversary-in-the-middle (AitM) platforms, such as Dadsec OTT, suggesting possible code reuse or a collaboration between developers.