Kraken’s Chief Security Officer, Nick Percoco blogged on 26 March about two new features for Kraken security while also promising that many are on the way.
Nick commenced by stating that he was elated to drive the security efforts at one of the largest cryptocurrency exchanges. Nick conveyed that security was a top priority at Kraken and always looked forward to protecting its clients. Nick noted that with a few newer additions to Kraken’s products, it further strengthens its commitment.
Nick cited on Kraken’s offering of security as –
“My vision for Kraken is to expand upon the strong, industry-leading security foundation we already have in place, utilize advanced features and techniques often only found in advanced security products – utilizing threat intelligence, behavior analytics, adversarial deception techniques and incorporate them into our present and future exchange products.”
Nick expressed that he had been busy the past few months working with Kraken’s team to roll out a security roadmap. He added that two-factor authentication enhancements and Kraken Security Labs were two notable developments.
Nick touched upon mandating two-factor authentication (2FA). Nick clarified that 2FA was available to clients since September 2013. However, the clients would be asked to enable it in their next login. The supported options for 2FA would be Google Authenticator and YubiKey.
Nick reiterated that such measures were in response to help customers protect their accounts. The blog conveyed that Kraken was looking into security measures that span into 2020 and beyond. Nick urged the users to take positive action when they are prompted with security requirements.
Nick further shared insight into the formation of Kraken Security Labs. He conveyed the stance that Kraken had built a world-class team with a dedicated focus to enhance security. This was for both the environments and products. To scale this to newer heights was the reason to form the Security Labs.
Nick sustained by throwing light on the engagements of Kraken Security Labs. The goal is to perform vulnerability research against third party products. These products include hardware wallets, software wallets, and allied technologies. The outcome of this study is to reveal information that does not endanger the security aspects of Kraken’s clients.
Earlier this month, Kraken had announced about its initiative to investigate the case of QuadrigaCX and also offer a monumental reward for the best tip-off.
Nick concluded by stating the global stand of Kraken was dedicated to providing security services. He expressed his initiative to lead the industry in security as well as strive to improve the entire infrastructure.