Binance Announces New Withdrawal Protection Feature

Binance has announced a new feature aimed at improving user security following recent events.

The feature, called withdrawal protection, allows users to block the withdrawal of assets from the blockchain for a specified period of time.

With this feature, users can temporarily suspend all cryptocurrency withdrawal operations from their accounts for a period ranging from 1 to 7 days. The “lock period,” set to 48 hours by default, prevents anyone — including the user — from transferring assets during that time.

Binance stated that this measure was specifically designed to counter threats involving physical coercion. Recently, particularly in France, there have been increasing reports of cryptocurrency theft targeting well-known individuals through physical force.

The company noted that crypto security typically focuses on digital threats such as phishing, fraud, SIM-swapping, and seed phrase compromise. However, the withdrawal protection feature adds an extra layer of security against situations not covered by these traditional methods, including coercion and forced transactions.

Once enabled, all other account functions remain operational. Users can continue trading, managing positions, and accessing their accounts, while withdrawals are temporarily disabled.

By default, early unlocking during the lock period is not allowed. This prevents manual deactivation of the lock even under pressure.

Users who require more flexibility can enable an “early unlock” option, allowing them to remove the lock before the expiration period using a security key and additional verification tools. Optionally, a separate phone number or email address can be specified for additional authentication.

Binance emphasized that this feature does not replace existing security measures but complements them. Users are still advised to use standard protections such as multi-factor authentication (MFA), withdrawal whitelists, and anti-phishing codes.

See also: "Binance Announces Listing of New Futures Contracts"

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