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The video discusses the vulnerabilities of two-factor authentication (2FA), emphasizing that relying solely on it is risky. While 2FA aims to verify identity, many usernames and passwords are available on the dark web. The lowest form of 2FA—email confirmation of a one-time password (OTP)—is only marginally better than having no protection, as hackers often have access to users' email accounts. SMS-based 2FA is slightly more secure since accessing someone’s text messages typically requires physical access to the phone or cloning it. However, scammers can manipulate cellular providers to activate new SIM cards by answering security questions, undermining the effectiveness of SMS 2FA as well.