"Withdraw Protection is a user-activated lock that halts all onchain withdrawals from a Binance account for a period between one and seven days. The default window is 48 hours. During that time, account access and trading remain fully available, but only outgoing crypto transfers are blocked."
"The feature arrives as so-called wrench attacks, be it kidnappings, home invasions, or physical coercion incidents designed to force crypto holders into signing transactions on the spot, have reached alarming levels worldwide."
Binance launched a new feature called Withdraw Protection on May 4, enabling users to block outgoing transfers for a period of one to seven days. This initiative responds to a 75% increase in physical coercion attacks on crypto holders in 2025. The feature allows users to maintain account access and trading while halting withdrawals. However, it does not protect against law enforcement orders and relies on Binance's infrastructure for enforcement, raising concerns about self-sovereign security mechanisms.
Read at news.bitcoin.com
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