Binance has rolled out a new security feature designed to give users more control over their funds during risky situations. The tool, called “Withdraw Protection,” allows users to temporarily block all outgoing crypto transfers from their accounts.
Once the feature is activated, it blocks all outgoing transfers for a chosen period, even if the account is accessed by someone else. Users can set the lock to last between one and seven days, with 48 hours as the standard option.
The feature works as a pause button for withdrawals. Users can still log in, trade, and manage their accounts, but they cannot send crypto out while the protection is active.
There is also an option to allow early cancellation, but it has to be set up before the lock is turned on. Without that setting, the block stays in place until the time runs out.
It is worth noting that this system is controlled by Binance itself, not by blockchain code. That means users are relying on the platform to enforce the lock, rather than controlling it directly through their wallets.
Oluwajeminipe Fasheun-Motesho
Rise in Crypto Wrench Attacks Worldwide
The timing of this feature is closely tied to a rise in real-world attacks linked to crypto. These incidents often involve threats or force to gain access to digital funds.
Data from CertiK shows that physical attacks targeting crypto holders increased by about 75% in 2025. These cases include kidnappings, home invasions, and threats designed to force victims to transfer funds on the spot.
In one case in Paris, attackers tried to kidnap the daughter and grandson of a cryptocurrency executive in broad daylight. Three masked men jumped out of a van and attempted to force them inside.
The situation quickly turned violent, but the woman’s partner and nearby witnesses stepped in, forcing the attackers to flee. Reports later said the weapon used was not real, but the incident still showed how far these attacks can go. Authorities confirmed that the victims were related to a figure connected to Paymium, and that similar cases have been recorded in the country.
This growing pattern is starting to draw wider attention across the industry. As Phil Ariss, Director, UK Public Sector Relations at TRM Labs, explained, “One factor that should not be overlooked when it comes to wrench attacks is that, at its core, it's a natural evolution of criminal behaviour.”
The introduction of Withdraw Protection shows how platforms are adjusting to new risks. It gives users time to react if they feel unsafe, instead of being forced to act immediately under pressure.
This does not remove the threat completely, but it adds a layer of control that did not exist before. In situations where every second counts, that delay could make a difference.
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