Two new initiatives aimed at enhancing client and industry security have been introduced by cryptocurrency exchange Kraken. Kraken uses Enforced 2FA and dedicated lab to bolster security.
Nicholas Percoco, chief security officer, stated in a blog post in March that the exchange has launched compulsory two-factor authentication (2FA).
Since its launch in September 2013, Kraken has had 2FA as an option for users. Percoco said that they will now be asked to enable the feature upon their next login, adding that the options for 2FA are currently Google Authenticator and YubiKey.
With the aim to improve the security of both its own products and the “entire cryptocurrency ecosystem”, the exchange has formed Kraken Security Labs. The goal will be accomplished by performing “vulnerability” research on third-party products, such as hardware and software wallets.
Percoco said that Kraken will keep developing with other client-facing security enhancements in the near future. Kraken uses Enforced 2FA and dedicated lab to bolster security.
The CSO’s vision for Kraken is to “expand upon the strong, industry leading security foundation,” and utilize advanced security products such as threat intelligence, behavior analytics and adversarial deception techniques, and incorporate them into the exchange’s present and future products.
The exchange’s product management team will provide “constant improvement into 2020 and beyond” through its security features roadmap.
“While this roadmap is not made public, you’ll be hearing about security enhancements and upgrades as they are released and made available to you. Like most features similar to 2FA, you’ll need to enable them to take advantage of the added security, so please be sure to take action when you’re prompted to.”