Bitcoin Global News (BGN)
March 28, 2019 -- ADVFN Crypto NewsWire -- Kraken has never
really been a typical crypto exchange. From counseling users to
avoid storing their crypto on exchanges at all, to leaving New York
in response to the Attorney General’s call for information, they
have consistently been the antithesis of Coinbase.
Strangely enough, even with this
differentiation, what they do not seem to have done is make user
security a top priority. Before Kraken supporters vehemently object
to this statement, this is not to say that their site is not
secure.
At the same time, with today’s
report that Kraken has just made two-factor authentication
mandatory, the situation becomes a bit blurry. Just how secure was
the platform before today? Were their significant holes, through
which hackers could have easily stolen customer
information?
According to CoinGape, which cites
posts from Kraken in its’ analysis, the exchange chose to make
security its’ number one priority after witnessing recent events
like the Cryptotopia hack and concluding that industry security
standards are not even close to adequate.
Mandating 2FA is just the beginning
of Kraken’s efforts. They already reportedly have research in the
works related to implementing more advanced security measures that
rely on “behavior analytics, adversarial deception techniques, and
threat intelligence,” which will be made operational sometime
between now and 2020.
As all of this is coming to light
following the chaos surrounding Coinbase’s acquisition of Neutrino,
perhaps Kraken will attract more Coinbase and Cryptopia defectors,
among others, over time.
Whatever the case, it does appear
likely that in a year’s time, Kraken may have successfully
re-branded itself as the most secure crypto exchange on the market.
Lending further credence to this is the fact that they have not
gone the way of Cryptopia and many others, at least not
yet.
By: BGN Editorial Staff