In an effort to protect individuals from attacks involving “physical coercion,” Binance introduced a new feature Monday that lets users set a withdrawal lockdown period of between one and seven days.
The world’s largest cryptocurrency exchange said the industry has created defenses against digital exploits, such as phishing and imposter scams, SIM swaps and seed phrase compromises, but it has yet to find a technological solution to so-called “wrench attacks.”
“There’s a category of risk those defenses don’t cover: physical coercion. These are situations where someone is pressured, in person, to move their own funds,” Binance said in a blog post. “When activated, withdraw protection blocks all on-chain withdrawals from your Binance account for a preset lockdown window. During that window, no one, including yourself, can move your crypto off the platform.”
Binance moving to help protect customers from “real-world threats” comes after blockchain analytics firm CertiK said in February that attacks using physical threats to steal crypto rose 75% in 2025. Last month, French authorities said they were investigating 88 individuals in connection with a series of kidnappings and extortions targeting holders of cryptocurrency.
In one high-profile case, Ledger co-founder David Balland and his wife were abducted from their home in France in January 2025 by suspects seeking a multi-million dollar ransom. And in another attack last month, hooded men with firearms reportedly extorted approximately over $800,000 in digital assets from a family in France.
“This is designed for users who want certainty that their wealth is immune to any form of pressure or coercion,” Binance said of the new feature.
Binance customers choosing to use the new feature can also activate an early unlock option that provides additional flexibility. With this feature, users can end the lockdown early with their security key and authenticator app, or they can have a confirmation sent to a separate phone number or email address.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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