I too have this issue. After updating to 1.4.9 all accounts are blocked with the error “too many failed login attempts”. I disabled the plugin long enough to log in and then reactivated it to view the log. It shows no IP addresses currently blocked. Attempting another login results in the same error. Downgrading to 1.4.8 fixed the problem.
WordPress version 5.4.2
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This reply was modified 6 years ago by jleether.