Binance introduces withdrawal lock feature to address offline coercion risks such as "wrench attacks".

CoinFeed reported on May 4th that Binance announced the launch of a user-controllable "Withdrawal Protection" feature designed to prevent offline coercive attacks (commonly known as "wrench attacks") against cryptocurrency holders. This feature allows users to proactively lock their account withdrawal privileges for 1 to 7 days, offering a stricter "lock mode" that cannot be lifted early within the set period. Binance stated that this locking mechanism cannot be overridden by platform customer service, but it is an internal policy control and not an on-chain cryptographic lock. Binance Chief Security Officer Jimmy Su stated that this move stems from observed risk trends, including some users experiencing forced transfers in high-risk regions. By setting withdrawal delays, users can have more time to respond and recover in extreme situations.