In Australia, Beaufort Fiduciaries Pty Ltd (ACN 162 139 871, AFSL No. 545124) provides wholesale clients with access to derivatives where the underlying assets are digital assets. Derivatives are complex, regulated financial products that are difficult to understand and may not be suitable for inexperienced investors. For eligibility, terms and conditions click here. Krak Pay is offered by Bit Trade Australia Pty Ltd (ACN 163 237 634), Authorised Representative of Flexewallet Pty Ltd (AFSL 448066). This information is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you and read the relevant disclosure documents before making any decision.

How to prevent unwanted withdrawals

Last updated: March 23, 2026

Kraken provides a security feature called the Global Settings Lock (GSL). It is a security feature that:

  1. 1

    Prevents changes from being made to your Kraken account.

  2. 2

    Hides sensitive account information.

Important

Note: While the Master Key override option can be convenient, it comes with an increased security risk if your Master Key is compromised.

  1. 1

    Sign in to your Kraken account and select your name in the upper-right corner of the page.

  2. 2

    Select Settings and click Security.

  3. 3

    Select Lock in the GSL settings.

    KrakenPro_SelectGSL.png
  4. 4

    Set the required waiting period to unlock the GSL without a Master Key.

    KrakenPro_LockSettings.png
  5. 5

    Select Lock settings which will enable the Global Settings Lock and complete the set up.

    KrakenPro_SelectLockSettings.png
  6. 6

    The Settings page of your account will display this banner.

    KrakenPro_Unlock.png

You will be notified via email of any attempted unlock of the GSL on your account. The waiting period is the amount of time you'll have to take action in the event of a compromise. However, it's also the amount of time you'll have to wait yourself if you lose your Master Key (or if you never set one up in the first place).

Warning

Warning: The Master Key can only be created before the GSL is turned on. Once the GSL is on, you will not be able to create a Master Key as that is the entire point of the GSL. Our support team is unable to assist with GSL removal if the unlock process is set between 1-30 days.

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