Magento2: Unable to generate customer token via magento2.3 rest api call on local setup

[RamanMalhotra88]

Preconditions

1. Magento version 2.3
2. Environment: Mac OS

Steps to reproduce

1. call the rest api : POST /V1/integration/customer/token (localhost:8888/magento2ce/rest/all/V1/integration/customer/token)

2. body: {
   "username": "[email protected]",
   "password": "test@123"
   }

Expected result

customer token generated successfully

Actual result

following error occurs on execution:
{
"message": "The account sign-in was incorrect or your account is disabled temporarily. Please wait and try again later."
}

we have verified that the user is created in magento as shown in screenshot below:

[magento-engcom-team]

Hi @RamanMalhotra88. Thank you for your report.
To help us process this issue please make sure that you provided the following information:

• [ ] Summary of the issue
• [ ] Information on your environment
• [ ] Steps to reproduce
• [ ] Expected and actual results

Please make sure that the issue is reproducible on the vanilla Magento instance following Steps to reproduce. To deploy vanilla Magento instance on our environment, please, add a comment to the issue:

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where $VERSION is version tags (starting from 2.2.0+) or develop branches (for example: 2.3-develop).
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@RamanMalhotra88 do you confirm that you was able to reproduce the issue on vanilla Magento instance following steps to reproduce?

• [ ] yes
• [ ] no

[magento-engcom-team]

Hi @engcom-backlog-nazar. Thank you for working on this issue.
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[zanatta]

@RamanMalhotra88 what have you done to fix? just started happening the same here.

[bhargavsejpalindianic]

Same issue here

[haelbichalex]

Check your oauth_token_request_log table as it could be the same issue as in #4432.

[taqvi]

Same issue in 2.3.3