Binance is launching a user-controlled withdrawal lock aimed at a threat the crypto industry has spent the past year reckoning with: physical coercion of holders, otherwise known as the so-called wrench attacks.
The feature, “Withdraw Protection,” lets users freeze their own account against onchain withdrawals for one to seven days, the exchange said Monday. A stricter “lockdown” mode disables early unlocking entirely. Binance’s press release says the lock cannot be overridden by the exchange.
In an interview with CoinDesk, the exchange’s Chief Security Officer Jimmy Su said the company built the feature in response to patterns it observed in the wild, including “withdrawals that are more risky or even coerced in some cases.”
He pointed…





