Binance unveils Withdraw Protection for user safety

Binance’s Withdraw Protection lets users block on-chain withdrawals for 1–7 days, guarding against physical threats. Trading remains active, and early unlocks require extra security verification.

Binance has launched a new security feature called Withdraw Protection to help safeguard users from physical coercion and forced fund transfers. This tool allows users to block all on-chain withdrawals from their Binance accounts for a customizable period of one to seven days, with a default lock of 48 hours. During this period, no withdrawals can be made, not even by the account owner, adding an extra layer of protection when digital security measures like passwords or two-factor authentication may not be enough. Users can opt for an 'Allow early unlock' feature, which requires additional security verification if they need to lift the lock before the set period ends. While withdrawals are blocked, users still have full access to their accounts and can continue trading as usual. Withdraw Protection is available on both the Binance app and web platform. Binance emphasizes that this feature does not protect against law enforcement actions and recommends users secure their API keys and manage their online presence for enhanced security.