All of my security questions are passwords. I once had someone at a bank ask "Wait, your mother's maiden's name has a number in it?"
"Wait, you actually answer security questions that any of your friends can guess honestly?"
All of my security questions are passwords. I once had someone at a bank ask "Wait, your mother's maiden's name has a number in it?"
"Wait, you actually answer security questions that any of your friends can guess honestly?"
Magic Online accounts can be worth tens of thousands of dollars.
And at least back when I played, if your account got compromised and all your cards were liquidated, the response from customer support was pretty much "that's too bad, shouldn't have let your account get compromised". I seriously doubt they ever added 2FA or anything either.
It might cost 10k+ dollars to make a behemoth account, but I don't think they are worth that much. It's basically fake internet points, I can gain these for free in this very comment.
You want to know how bad it can break down? I imagine the worst case scenario, for so many reasons, actually happened and was mtgox.com. It started out as a Magic: The Gathering Online Exchange (from what I understand) before it became the now infamous Bitcoin exchange that was hacked[1] and massive amounts of money was stolen. I don't know for a fact that old accounts before the pivot to Bitcoin still existed and worked, but it's not inconceivable that they would. One hopes they adopted much better security compared to when they were a trading card exchange (if it wasn't already exceptional at that time), but there could very well have been a time when it was gaining traction for financial type services but didn't have good account safeguards.
1: Or whatever. From what I remember that's a story convoluted and with enough conspiracy theories it's worth a movie.
I guess that's a long-winded way of saying you are probably right.
Then again, bitcoins were worth so little in 2010 that I could imagine the account security on exchanges back then being comparable to hobbiest exchange sites, so the spirit of the comment may be valid even if the specific example falls down. :/