Binance is launching a user-controlled withdrawal block aimed at a threat that the crypto industry has spent the past year reckoning with: physical coercion of holders, also known as so-called wrench attacks.
The “Withdrawal Protection” feature allows users to freeze their own account against on-chain withdrawals for one to seven days, the exchange said on Monday. A stricter “lock” mode completely disables early unlocking. Binance’s press release says that the exchange cannot override the block.
In an interview with CoinDesk, the exchange’s chief security officer, Jimmy Su, said the company created the feature in response to patterns it observed in the wild, including “withdrawals that are more risky or even forced in some cases.”
He pointed to users traveling to regions where being identifiable as a cryptocurrency holder carries a physical risk.
“We’re seeing a pattern where some of the users might go to riskier geographic locations,” Su said. “They want to have this layer of user control where they can restrict withdrawals. In case something happens, that would give them more time to recover.”
When asked if the feature was specifically a defense against wrench attacks, Su said that was one scenario, along with cases in certain regions where bad actors are actively working to identify cryptocurrency users to attack them in person.
A political blockade
Binance’s press release framed the non-voidable lock as a strict guarantee. His clarified that the mechanism is an internal policy.
“It’s an internal policy for this particular feature. Our customer service agents cannot override it,” Su told CoinDesk. “The goal is to address the irreversible transfer nature of cryptocurrencies… Unlike a fiat scenario where funds are withdrawn to a checking or bank account and there are ways to reverse the transaction, you can’t do that with on-chain cryptocurrencies.”
The distinction matters. A cryptographic lock would be effectively immutable for the period chosen by the user. A policy lock is dependent on continued enforcement by Binance and no legal obligation to lift it. Su said the feature does not block police orders.
“This does not prevent the authorities from taking action on the accounts,” he said.
Why it is worth offering a delay now
Withdrawal delay features are not new. Coinbase has offered Vaults, with a 48-hour delay and email confirmation, for years. Kraken offers a similar global configuration lock.
The threat landscape has changed. According to data from CertiK and cryptocurrency researcher Jameson Lopp, verified incidents of physical coercion against cryptocurrency holders increased by 75% in 2025, reaching 72 confirmed cases. Incidents related to assault increased by 250%.
Forced withdrawals void the security of the conventional account. Each credential verification is completed by the legitimate user.
A time lock changes that calculation: a user who activates Withdrawal Protection before traveling to a high-risk region cannot be forced to move funds at the destination, even under physical threat. Contacting technical support, in this case, would not help either.
Trading Bots and the Next Layer
When asked what user behavior he is most concerned about, Su pointed to trading bots advertised on forums and ad networks that ask users to grant API keys with broad permissions.
“If the trading robot is a scam, it can be used to cause trading losses and unauthorized withdrawals,” Su said. Users should treat API keys with the same protection as their passwords or two-factor authentication, he added: “Once a trading bot uses a key, it is as if it is trading on behalf of that user.”
Binance is investing in context-aware authentication that varies friction depending on the risk detected, Su said. For routine actions like logging in or trading, the goal is to reduce visible challenges. For high-risk actions like withdrawals, the point is more friction.
He framed Protective Retreat as a layer in a defense-in-depth approach, not as a replacement for basic hygiene. The advice for the wrench attack threat model, he said, was to manage one’s online footprint.
“Cryptocurrency users need to protect their online presence,” Su said. “Trying to protect sensitive information in terms of how much they have in crypto. Make yourself a harder target.”
