Binance has launched a user-controlled withdrawal lock, dubbed 'Withdraw Protection', to counter the growing threat of physical coercion against crypto holders. This feature enables users to freeze their accounts for a specified period, ranging from one to seven days, with an optional 'lockdown' mode that prevents early unlocking. According to Binance's Chief Security Officer, Jimmy Su, the exchange developed this feature in response to observed patterns of coerced withdrawals.
The lock is an internal policy, meaning it cannot be overridden by the exchange, but it does not block law enforcement orders. Su emphasized that the goal is to address the irreversible nature of crypto transactions, which cannot be reversed like fiat transactions. The introduction of this feature comes as the threat landscape has changed, with a 75% increase in verified physical coercion incidents against crypto holders in 2025.
The time lock changes the calculus for potential attackers, as a user who activates Withdraw Protection before traveling to a high-risk region cannot be forced to move funds, even under physical threat. Su also highlighted the importance of managing one's online footprint to protect against coercion, and advised users to treat API keys with the same protection as passwords or two-factor authentication.