How does Kraken handle security and account protection?

Kraken takes security and account protection seriously to safeguard user funds and personal information. They employ a multi-layered approach to ensure a secure platform. First, user accounts are protected through two-factor authentication (2FA) using industry-standard methods like Google Authenticator. Second, they store the majority of user funds in offline, air-gapped cold wallets that are distributed geographically in secure facilities. These funds are protected from online threats such as hacking or unauthorized access. Additionally, Kraken conducts regular third-party security audits to identify and address any vulnerabilities in their systems. They also have advanced monitoring tools to detect and mitigate any suspicious activities. In the unlikely event of a breach, Kraken has a dedicated security team and insurance coverage to minimize any potential losses.