diff --git a/app/Providers/AppServiceProvider.php b/app/Providers/AppServiceProvider.php
index 971b928..76f9520 100644
--- a/app/Providers/AppServiceProvider.php
+++ b/app/Providers/AppServiceProvider.php
@@ -54,6 +54,21 @@ class AppServiceProvider extends ServiceProvider
         RateLimiter::for('api', fn (Request $request) => Limit::perMinute(120)
             ->by($request->user()?->id ?: $request->ip()));
 
+        // Backs POST /api/v1/auth/token. Budgeted per account and address
+        // rather than per address alone, because the deployed MCP server
+        // (mcp/) signs everyone in from one container: per IP, one person's
+        // wrong password — or a stranger's guesses — would lock every other
+        // user out of it. The per-address ceiling still bounds how many
+        // accounts a single client can try.
+        RateLimiter::for('auth-token', fn (Request $request) => [
+            Limit::perMinute(6)->by('auth-token:'.sha1(
+                Str::lower((string) ($request->input('username') ?: $request->input('refresh_token')))
+                .'|'.$request->ip()
+            )),
+
+            Limit::perMinute(30)->by('auth-token-ip:'.$request->ip()),
+        ]);
+
         // The public API is a different problem. The public frontend renders
         // server-side, so every visitor's page view arrives from the same IP:
         // a per-IP budget sized for one person would throttle the entire
diff --git a/public/openapi.yaml b/public/openapi.yaml
index 0bbb129..d1c0acc 100644
--- a/public/openapi.yaml
+++ b/public/openapi.yaml
@@ -909,8 +909,9 @@ paths:
       description: |
         Proxies the identity server's `password` and `refresh_token` grants so
         first-party clients need not embed the OAuth server's URL or secret.
-        Rate limited to 6 requests per minute. Browser clients should use
-        Authorization Code + PKCE instead.
+        Rate limited to 6 requests per minute per account and address, and 30
+        per address overall. Browser clients should use Authorization Code +
+        PKCE instead.
       security: []
       requestBody:
         required: true
diff --git a/routes/api.php b/routes/api.php
index b78cb70..de9e49d 100644
--- a/routes/api.php
+++ b/routes/api.php
@@ -152,7 +152,7 @@ Route::prefix('v1')->name('api.v1.')->group(function () {
     // Convenience endpoint for first-party clients: exchanges credentials for
     // a token upstream so they do not need to know the identity server's URL.
     Route::post('auth/token', [TokenController::class, 'store'])
-        ->middleware('throttle:6,1')
+        ->middleware('throttle:auth-token')
         ->name('auth.token');
 
     Route::middleware(['auth:api', 'throttle:api'])->group(function () {
diff --git a/tests/Feature/Api/TokenEndpointTest.php b/tests/Feature/Api/TokenEndpointTest.php
index 8856774..35f1da3 100644
--- a/tests/Feature/Api/TokenEndpointTest.php
+++ b/tests/Feature/Api/TokenEndpointTest.php
@@ -103,6 +103,38 @@ class TokenEndpointTest extends TestCase
             ->assertJsonValidationErrors('grant_type');
     }
 
+    #[Test]
+    public function one_account_exhausting_its_budget_does_not_lock_out_another_on_the_same_address(): void
+    {
+        // Everyone the MCP server signs in arrives from its one container.
+        // Registered first so it wins over fakePireon()'s token stub, which
+        // would otherwise accept every password.
+        Http::fake(["{$this->pireonServer}/oauth/token" => fn ($request) => $request['username'] === 'ada@example.com'
+            ? Http::response(['access_token' => 'fake-access-token', 'token_type' => 'Bearer', 'expires_in' => 3600])
+            : Http::response(['error' => 'invalid_grant'], 400)]);
+        $this->fakePireon();
+
+        foreach (range(1, 6) as $attempt) {
+            $this->postJson('/api/v1/auth/token', [
+                'grant_type' => 'password',
+                'username' => 'mallory@example.com',
+                'password' => "guess-{$attempt}",
+            ])->assertStatus(422);
+        }
+
+        $this->postJson('/api/v1/auth/token', [
+            'grant_type' => 'password',
+            'username' => 'MALLORY@example.com',
+            'password' => 'guess-7',
+        ])->assertTooManyRequests();
+
+        $this->postJson('/api/v1/auth/token', [
+            'grant_type' => 'password',
+            'username' => 'ada@example.com',
+            'password' => 'secret',
+        ])->assertOk();
+    }
+
     #[Test]
     public function repeated_calls_with_the_same_token_hit_the_identity_server_once(): void
     {