14 days ago - lama - Direct link
Actually Steam does do some stuff to try and prevent this from happening, such as region locking etc.

I'd say its cheaper and more common to see cheaters on stolen accounts instead. People set up phishing websites disguised as skin gambling, giveaways, or Twitch drops and trick people into giving away their Steam password and Steam Guard code. This is enough to take control of the account to play games on.