Blizzard was one of the first large customers of TOTP, and what we learned from that saga is that 1) keyloggers are a problem and 2) impersonating people for TOTP interactions is profitable even if you're only a gold farmer.
The vector was this: Blizzard let you disable the authenticator on your account by asking for 3 consecutive TOTP outputs from your device. That would let you delete the authenticator from your account.
The implementation was to spread a keylogger as a virus, and when it detected a Blizzard login, it would grab the key as you typed it, and make sure Blizzard got the wrong value when you hit submit. Blizzard would say try again, and the logger would collect the next two values, log into your account, remove the authenticator and change your password.
By the time you typed in the 4th attempt to log in, you'd already be locked out of your account, and by the time you called support, they would already have laundered your stuff.
This was targeting 10 million people for their imaginary money and a fraction of their imaginary goods. On the one hand that's a lot of effort for a small payoff. On the other, maybe the fact that it was so ridiculous insulated them from FBI intervention. If they were doing this to banks they'd have Feds on them like white on rice. But it definitely is a proof of concept for something much more nefarious.