Kraken announces new security features to combat phone scams
Kraken introduces new verification methods to protect customers from phone-based fraud attempts.
1Kraken's new phone verification system
Kraken has launched a new system to verify the authenticity of customer support calls. Now when a support agent calls you back, the app will display a real-time notification confirming the call is verified. This feature works not just for in-app calls but also for standard phone line callbacks. The system uses a one-time code mechanism to authenticate the agent's identity.
2Security with one-time codes
Kraken's new security feature allows users to verify an agent's identity during phone calls. During a callback, you can ask the agent to read back a one-time verification code displayed in your app. Matching codes confirm you're speaking with a genuine Kraken support representative. This method provides effective protection against phone number spoofing attacks.
3Unverified call warnings
Kraken now provides stronger warnings for unverified calls. When the system detects an unverified call, it shows users a clear 'hang up and report' message. Additionally, when attempting sensitive actions (like withdrawals or account changes) during an unverified call, extra security warnings appear. These warnings include information about common scam tactics.
4Expanded Android protection
Kraken's new security features include additional protections for Android users. The system now detects not just standard phone app calls but also voice calls made through apps like Telegram and Signal. This feature works without requesting additional permissions and maintains privacy. Kraken only checks whether a call is active, without accessing call audio, contacts, or personal information.
5Beware of scam scenarios
Scammers often call pretending to be from Kraken, creating urgency to convince victims to transfer funds, share login credentials, or provide 2FA codes. Caller ID offers no protection as numbers can be easily spoofed. Kraken only calls customers back after they've initiated contact through the app, email, or chat. Unexpected calls should always be treated with suspicion.
6Security tips for users
Kraken advises customers to: Check verification banners in the app (verified calls show 'Speaking with Kraken Support'). Ask agents to read back the verification code from your app. Never transfer funds or share passwords/2FA codes over the phone (Kraken never asks for these). Hang up and report immediately if something seems suspicious.
7Feature availability
Kraken's new security features are currently available in the Kraken app, Kraken Pro app, and Krak. Users need to update to the latest version for full protection. The company emphasizes that account security isn't a one-time feature but an ongoing process. These new measures add an extra layer of protection against phone scams.
8Security standards in fintech
Kraken's move demonstrates a proactive approach to increasing cybersecurity threats in fintech. Phishing and social engineering attacks are particularly prevalent in crypto platforms. Such security measures not only protect users but also enhance trust in the industry. Other fintech companies are expected to invest in similar security innovations.