Kraken makes 2FA obligatory; forms Kraken Security Labs

Kraken’s Chief Security Officer Nick Percoco has announced changes to the cryptocurrency exchange’s security features. He promises there are more client-facing security enhancements on the way, all a part of a security features roadmap planned out into 2020. Most new features will require enabling by the client to add additional levels of security.

This is the case with Two Factor Authentication. While the feature has been available since Kraken’s launch, it was previously optional. Now, Two Factor Authentication has been made a requirement by the exchange. There are now two options available to the clients—Google Authenticator and YubiKey.

Percoco also announced the formation of Kraken Security Labs. Percoco writes, “The effort is committed to improving the security of the entire cryptocurrency ecosystem by performing vulnerability research against 3rd party products—like hardware wallets, software wallets, and other related technology—and disclosing identified issues in a way that does not jeopardize the security of the industry or our clients, but rather improve security for our clients and the world once the issues are fixed.”