The Binance exchange has launched a new security feature called Withdrawal Protection, which allows users to block outgoing transfers from their accounts for up to seven days, as a direct response to the global rise in violent physical attacks targeted at crypto holders.
The default period is set for 48 hours. During this time, account access and trading remain fully available, but only outgoing crypto transfers are blocked.
Users who want the option to cancel early can enable a bypass setting before activating the lock, but without that setting, no one can withdraw funds from the platform during the lock period, including the account holder.
The default period is set for 48 hours. During this time, account access and trading remain fully available, but only outgoing crypto transfers are blocked.
Users who want the option to cancel early can enable a bypass setting before activating the lock, but without that setting, no one can withdraw funds from the platform during the lock period, including the account holder.