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Is Kraken a Scam?

kraken.comLegitimate Business

Risk Assessment

20%Risk Score

Low Risk

Summary

Kraken is a legitimate cryptocurrency exchange founded in 2011. One of the oldest and most trusted exchanges with strong security.

Kraken is NOT a scam. SEC settlement was about staking, not fraud. Strong security track record.

Company Information

Parent Company

Payward, Inc.

Founded

2011

Headquarters

San Francisco, CA

Stock

Private

Employees

3,200+

Trust Indicators

Operating since 2011 (13+ years)[source]
Never been hacked[source]
Proof of Reserves audited[source]
Registered MSB with FinCEN[source]

Concerns

$30M SEC settlement (2023) - stakingmedium[source]
Crypto assets are volatilemedium[source]

💡 Recommendations

1.Enable all security features (2FA, Master Key)
2.Use Kraken Pro for lower fees
3.Understand crypto volatility
4.Consider self-custody for large holdings
5.Beware phishing sites

📚 Sources

Kraken About Kraken Proof of Reserves SEC - Kraken Settlement BBB Business Profile

Last updated: 2026-01-22

Disclaimer: This analysis is for informational purposes only. Information may be incomplete, outdated, or inaccurate. Our assessments should not be the sole basis for financial, legal, or personal decisions. Always conduct your own research and due diligence.