I have an iPhone XR with the latest updates. I use Microsoft Authenticator for some 2 step verification for work related stuff.
Today I enabled the Instagram two factor security option and choose the app authentication. This prompted me to download an authenticator by DUO security. So I gave that a try.
Once downloaded I enabled Instagram 2 factor again. It now noticed I had installed the DUO authenticator, but instead opened the Microsoft authenticator. I went through the steps of the Microsoft authenticator and instagram accepted it. Instagram now uses the Microsoft authenticator whilst it did not recognize it at first.
I am wondering if, somebody with malicious intent, can exploit this.