Kraken (Payward group) is one of the larger, longer-lived centralised exchanges. Public materials describe European entities with electronic-money and MiCA crypto-asset service permissions, substantial reported adjusted revenue, and proof-of-reserves snapshots that have shown above-100% reserve ratios on major assets. The U.S. Securities and Exchange Commission (SEC) also terminated its main case against Kraken in March 2025, according to widely reported dockets — a legal cloud lifted, not a government guarantee.
Kraken itself states the blunt limit: platform balances are not bank deposits and are not covered like FDIC/SIPC protections. Adjusted management metrics are not the same as full public-company filings. Cold storage, ISO certifications and bug bounties reduce some operational risks; they do not erase counterparty risk if you leave life savings on the venue.
Use it as a on-/off-ramp if it fits your jurisdiction, withdraw what you do not trade, enable strong 2FA, and ignore Telegram “Kraken agents” selling priority withdrawals.
Start at Get help. Anyone selling paid unlocks or “lawyer recoveries”: Fake recovery.
This article is for general information only. It is not legal or financial advice. Details change. If you have lost money, contact your bank or card issuer and use the routes on the help pages.