Binance has rolled out Withdraw Protection, a new security feature that lets users lock on-chain withdrawals for 1 to 7 days. During that period, crypto cannot be moved off the exchange. The source notes that a 48-hour window is widely viewed as a practical default, especially for users who are traveling or spending time in public places where physical coercion may be a concern.
How the withdrawal lock works
The feature can be enabled through the Binance app or the web platform. Users enter the security section, choose Withdraw Protection, set a lock period, and decide whether to allow an early unlock option before confirming the setting. On iOS, the option is available on version 3.14.0 or later. On the web, it appears under advanced security settings.
Once activated, on-chain withdrawals remain blocked for the selected period, while trading functions stay available. Binance describes the tool as a policy-based account rule rather than a blockchain-level cryptographic lock. The exchange also says customer support cannot override a user’s chosen lock window, though official law enforcement orders are not blocked by the feature.
Built for threats that 2FA cannot stop
The report draws a clear line between standard account security and physical safety. Traditional 2FA and passkeys are meant to stop remote intrusions, but they may fail in a so-called wrench attack, where an attacker uses force to demand an immediate transfer. Withdraw Protection is designed for that gap. If early unlock is disabled, access to the account does not translate into instant withdrawal ability.
Address whitelisting can limit where funds go and may help in some takeover scenarios, but this tool focuses on time control. That delay is the central defense.
Physical attacks on crypto holders are rising
The article cites security data showing that physical crimes against crypto holders rose 75% in 2025. CertiK reported 72 confirmed cases involving physical threats last year. It also points to an incident in April 2026 in which armed men extorted $800,000 from a family in France. Separately, the source says assault-related incidents recently jumped 250%, while French authorities are investigating 88 individuals tied to this category of crime.
Binance Chief Security Officer Jimmy Su said travelers can face elevated risks in certain regions. In that context, locking withdrawals before entering a higher-risk area may reduce the immediate value criminals can extract from a victim.
How Binance differs from other exchanges
The source compares Binance’s approach with other major platforms. Coinbase is described as focusing more on biometric access and vault delays, while Kraken offers a Global Settings Lock that requires a Master Key for account changes. Binance’s 1-7 day withdrawal freeze, by contrast, is presented as a targeted anti-coercion measure.
The article also stresses that personal security habits still matter: avoid posting screenshots of large balances, use biometric login such as Face ID, and set an anti-phishing code for official emails. Withdraw Protection adds another layer, aimed at real-world threats that digital authentication alone cannot fully address.