PANews May 4 news, according to CoinDesk, Binance announced the launch of a user-controlled "Withdraw Protection" feature aimed at preventing offline coercive attacks (commonly known as "wrench attacks") against cryptocurrency holders. This feature allows users to actively lock their account withdrawal permissions for 1 to 7 days and provides a stricter "lock mode," which cannot be lifted early during the set period. Binance stated that this locking mechanism cannot be overridden by platform customer service but is under internal policy control, not an on-chain encrypted-level lock.

Binance's Chief Security Officer Jimmy Su stated that this move stems from the risk trends observed on the platform, including cases where some users in high-risk areas have encountered forced transfers. By setting withdrawal delays, it can provide users with time to respond and recover in extreme situations.

Data shows that in 2025, incidents of offline coercion targeting cryptocurrency users significantly increased, with related attacks often bypassing traditional account security mechanisms because the actions are performed by the user themselves under pressure. The industry believes that the time lock mechanism can change this risk model to some extent. Binance emphasizes that this feature does not affect law enforcement agencies' actions taken in accordance with the law, while also advising users to strengthen API key management and privacy protection to reduce targeting risks.

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