Is it safe to hold money in Kraken?

Can you elaborate on the safety of holding money in Kraken? With the ever-evolving landscape of cryptocurrency exchanges, concerns about security and trustworthiness are paramount. How does Kraken ensure the safety of user funds? What measures do they have in place to protect against hacking, fraud, and other potential risks? Additionally, what are the benefits and drawbacks of using Kraken compared to other cryptocurrency exchanges? It would be great to gain a comprehensive understanding of the platform's safety features and reputation in the industry.