Binance Is Launching a Withdrawal Lock to Help Deter Crypto Wrench Attacks
10 Articles
10 Articles
Binance Launches "Withdraw Protection" as Crypto Wrench Attacks Surge 75% in 2025
The world’s largest cryptocurrency exchange has rolled out a long-awaited security feature designed not to stop hackers — but to stop criminals armed with physical threats. For years, the cryptocurrency industry has poured billions into defending against digital attackers: phishing scams, SIM card swaps, seed phrase theft, and elaborate social engineering campaigns. Yet one threat has stubbornly resisted every technological fix — the criminal wh…
Binance has begun to deploy a tool that allows its users to temporarily freeze withdrawals from their account in the face of the risk of a physical attack. The measure seeks to protect above all those who have made public their possession of cryptocurrencies and have become, without intent, targets of kidnappers and extortionists. The movement arrives at a delicate moment for the sector. In recent months several serious episodes have been docume…
Key points of the news: Binance launched "Withdraw Protection", a function that allows users to block withdrawals for between 1 and 7 days to protect themselves from physical coercion attacks. The blockade is an internal policy, not cryptographic, and does not prevent the application of court orders or law enforcement actions on accounts. The physical coercion attacks against crypto users grew by 75% in 2025, there are at least 72 confirmed case…
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