What if user loses his/her phone with TheGRID Beacon activated?
Similar to losing important personal identification like credit card, identification card, passport, ATM bank card, access card, etc; the user should immediately report the loss to the bank and relevant authorities.
First factor = username & password
Second factor = TheGRID Beacon smartphone application
It is important to note that even though the second factor authentication device is lost, the user's account is still protected by the first factor.