Binance is launching a withdrawal lock to help deter crypto wrench attacks
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By Francisco Rodrigues
Published on May 4, 2026.
Binance is launching a user-controlled withdrawal lock to combat physical coercion of crypto holders, known as "wrench attacks". The feature, "Withdraw Protection," allows users to freeze their account against onchain withdrawals for one to seven days. A stricter "lockdown" mode disables early unlocking entirely. Binance's Chief Security Officer, Jimmy Su, stated that the lock cannot be overridden by the exchange and is designed to address the irreversible transfer nature of crypto. The lock will not block law enforcement action on accounts and will depend on Binance’s continued enforcement. The company is investing in context-aware authentication that varies depending on detected risk.
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