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Exchanges / Kraken
RIGOR REPORT · EDITION 0 · VERIFIED 7 OCT 2026

Is Kraken safe?

MiCA authorized Evidence 100%

73
Rigor score of the evidence we could verify
Key facts

What the sources say

MiCAAuthorizedPayward Europe Solutions Limited (LEI 254900641D8KNHUZYX24); Payward Global Solutions Limited (LEI 9845003D98SCC2851458, trading platform operation) · Central Bank of Ireland (CBI) · 2025-06-25
Italian residentsYesRegistry check pending
Proof of reservesPublished2026-06-30
Spot fees (base tier)0.4% / 0.8%maker / taker
Score breakdown

Where the points come from

Regulation25 / 25
MiCA authorization found in the ESMA interim register or a national regulator list
Transparency18 / 20
Proof of reserves published: yes; Independent party: unnamed accountant; Liabilities included: yes; Last report: 2026-06-30
Security record14 / 20
Worst incident in the last five years scored: 14 of 20
Compliance record14 / 25
3 regulator or court action(s) in the window; reports from press only are shown but not scored
Costs2 / 10
Spot taker 0.8% at the published base tier
Track record

Incidents and regulator actions

Security incidents

  • 2024-06-09 Bug allowed nearly $3M to be withdrawn from Kraken treasuries via a bug-bounty submission; Kraken said it was not client assets. Outcome: Funds reported returned minus a small amount lost to fees; bug fixed within hours of alert. source

Regulator and court actions

  • 2022-11-28 US OFAC: Settlement for apparent violations of Iran sanctions (users apparently in Iran transacted; delayed geolocation tools). Outcome: Paid $362,158.70 and agreed to spend $100,000 on sanctions compliance controls. Official source Smaller fine, settlement or restriction source
  • 2023-02-13 US SEC: Charged Payward Ventures and Payward Trading with failing to register offer and sale of crypto staking-as-a-service program. Outcome: $30M settlement; agreed to stop offering staking programs in the US; no admission or denial. Official source Fine or settlement of about 1M or more source
  • 2025-03-27 US SEC: Separate civil enforcement action against Payward, Inc. and Payward Ventures, Inc. (Kraken). Outcome: SEC filed joint stipulation of dismissal with prejudice; SEC stated it was not based on an assessment of the merits. Official source Dismissed or closed, no merits finding source
Limits

What we could not verify

OAM register not read directly (403); registration number relies on a third-party article. PoR auditor not named by Kraken. Withdrawal fees/limits not verified. No exhaustive search for other regulator actions (e.g. CFTC, state regulators); Italian availability of futures/staking unverified. Fee schedule page undated.

Facts are as of 7 Oct 2026. Searches are not exhaustive. If something here is wrong or out of date, send a correction with a source: corrections policy. Education only, not investment advice.

Sources

  1. [1] ESMA interim MiCA CASP register (CSV) accessed 2026-10-07
  2. [2] Finanzadigitale: lista exchange OAM accessed 2026-10-07
  3. [3] OFAC recent actions 28 Nov 2022 accessed 2026-10-07
  4. [4] SEC litigation release LR-26278 accessed 2026-10-07
  5. [5] Kraken proof of reserves accessed 2026-10-07
  6. [6] SEC litigation release LR-25637 accessed 2026-10-07
  7. [7] The Block: Kraken bug exploited accessed 2026-10-07
  8. [8] Kraken fee schedule accessed 2026-10-07
  9. [9] FinTech Futures: Kraken e-money licence, VASP Spain accessed 2026-10-07
  10. [10] Business Wire: Kraken MiCA licence accessed 2026-10-07
Questions

Common questions about Kraken

Is Kraken safe?

We do not give a yes or no, because safety depends on what you need to protect and on facts that change. In our Edition 0 audit Kraken scored 73 out of 100 with 100% of the evidence verified. We found 1 security incident in the last five years and 2 regulator or court actions that were not dismissed. Read the sources on this page before you deposit.

Does Kraken publish proof of reserves?

Yes. Latest date we found: 2026-06-30. Compare all exchanges: proof of reserves compared.

Is Kraken authorized under MiCA?

Yes. Authorized by Central Bank of Ireland (CBI) on 2025-06-25. Entity: Payward Europe Solutions Limited (LEI 254900641D8KNHUZYX24); Payward Global Solutions Limited (LEI 9845003D98SCC2851458, trading platform operation). See all exchanges: MiCA authorized exchanges.

What are Kraken's spot trading fees?

Base tier spot fees are 0.4% maker and 0.8% taker.

Can Italian residents use Kraken?

Accepts Italian residents: Yes. The registry check is pending.