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Binance Adds User-Controlled Withdraw Protection Amid Rise in Offline Crypto Attacks

Binance said users can lock withdrawals for one to seven days, and Changpeng Zhao said travelers facing elevated "crypto kidnap" risk may want to use the feature for added safety.

Fact Check
The claim is fully corroborated by the official @binance X account post (published 2026-05-04), which explicitly states the feature is called 'Withdraw Protection' and allows locking on-chain withdrawals for 1-7 days. The Binance Blog post linked from that tweet further confirms the feature. CoinDesk's detailed reporting confirms both the 1-7 day range and the existence of a stricter 'lockdown' mode that cannot be ended early - matching the claim's description of 'an optional stricter mode that cannot be ended early.' Bitcoin.com News provides additional independent corroboration. All specific details in the claim - user-controlled nature, 1-7 day range, stricter mode that cannot be ended early, and the context of offline/physical crypto attacks - are verified across multiple authoritative sources.
Summary

Binance has introduced Withdraw Protection, a user-controlled feature that lets customers lock crypto withdrawals for one to seven days, including a stricter mode that cannot be ended early. The exchange said the tool responds to a reported rise in offline coercion attacks against crypto holders in 2025, including so-called crypto wrench attacks involving threats, assault, kidnapping, or pressure to transfer assets or reveal access credentials. Changpeng Zhao, identified in the source as Binance’s former chief executive, said users traveling to countries with elevated "crypto kidnap" risk may want to use the feature, underscoring its use as a practical safeguard against forced transfers and other real-world threats.

Terms & Concepts
  • Withdraw Protection: An account security control that temporarily blocks or restricts crypto withdrawals for a user-selected period to help prevent unauthorized or coerced transfers.
  • Crypto wrench attack: A physical coercion attack in which criminals threaten, harm, kidnap, or intimidate a person to obtain private keys or force a cryptocurrency transfer.
  • Private keys: Secret cryptographic credentials that give control over blockchain-based assets held in a wallet.