OKX launches large-withdrawal and nighttime withdrawal protection tools

The exchange said users can set a 24-hour cumulative withdrawal threshold of up to $10 million equivalent, while KYC users can block several transfer functions for as long as 12 hours each day.

Summary

OKX has introduced two new account security features aimed at tightening controls over fund outflows. The exchange said its large-withdrawal protection lets users set a self-defined 24-hour cumulative outbound transfer threshold across channels, with a maximum cap of $10 million equivalent. A separate nighttime withdrawal protection feature allows KYC (identity verification) users to choose a daily protected window of up to 12 hours, during which on-chain withdrawals, C2C sales (customer-to-customer trades), API withdrawals and OKX Pay top-ups will be blocked. The company said users can configure the tools in the Security Center under Advanced Security Settings.

Terms & Concepts
  • KYC: Identity verification required by platforms
  • API withdrawals: Withdrawals initiated through software connections
  • on-chain withdrawals: Crypto transfers sent on a blockchain