Binance launches withdrawal lock to prevent crypto attacks

Binance launched Withdraw Protection on May 5 that lets users delay crypto transfers for one to seven days to reduce the risk of coercion attacks.

The feature includes an option that prevents early unlocking and was developed after the exchange detected suspicious or potentially forced withdrawals, said chief security officer Jimmy Su.

Su said the lock is enforced by internal policy rather than cryptographic code, cannot be overridden by customer service, and does not stop law enforcement orders.

Similar tools already exist at Coinbase and Kraken, while data from CertiK and researcher Jameson Lopp showed verified physical coercion cases against crypto holders rose 75% to 72 in 2025 and assault-related cases jumped 250%.

🔗 Source: CoinDesk

🧠 Food for thought

Implications, context, and why it matters.

Physical crypto attacks are rising fast in Europe

Physical coercion tied to crypto led to more than US$40.9 million in confirmed losses in 2025 1.
Europe accounted for more than 40% of global incidents in 2025, up from 22% a year earlier 1.
France emerged as a hot spot with 19 attacks in 2025, more than the United States recorded that year 1.
Organized criminal groups often build victim profiles through social media, leaked datasets, and data bought from insiders. One widely known case involved a French tax official accused of selling sensitive data to wrench attackers, criminals who use threats or violence to force victims to hand over crypto access 2.

Real-world threats are reshaping crypto security

Tools such as Binance’s withdrawal locks can slow theft, though they also weaken the idea of full and instant personal control over crypto assets.
Irreversible transactions give holders direct control, yet that same feature leaves little room to stop a transfer made under threat 2.
The industry is being forced to face a simple problem. Strong encryption cannot protect funds when criminals target the person holding the keys 2.
Exchanges are adding back bank-style safeguards. Security experts also back multi-signature arrangements, which require approval from more than one account or person to move funds, along with withdrawal delays and spending caps that limit what can be taken under duress 2.