Binance launches Withdraw Protection as wrench attacks rise 75%

Binance launched Withdraw Protection on May 4. The feature lets users block all on-chain withdrawals from their accounts for between 1 and 7 days, with a 48-hour lock set by default. Account access and trading remain available while the lock is active.

Users can enable an early-bypass option before activating the lock; without that pre-enabled bypass no one can move funds off the exchange during the lock period, including the account holder. Binance enforces the restriction through its internal systems rather than by changing user-held keys or using on-chain controls.

Binance review noted the feature does not prevent compliance with legal or regulatory orders, and funds remain subject to lawful requests from authorities because the freeze is applied by the exchange’s infrastructure.

Security firms and researchers have reported a rise in wrench attacks — kidnappings, home invasions and physical coercion intended to force victims to transfer crypto. Blockchain security firm Certik recorded 72 verified physical coercion incidents in 2025, a 75% increase year over year, and reported a 250% rise in assault-related incidents over the same period.

Independent researcher Jameson Lopp’s tracker shows 316 kidnap-and-ransom-style incidents against crypto holders since 2014, with 79 such attacks in 2025 and at least 27 more reported so far in 2026.

French authorities recorded 135 incidents since 2023, including 67 in 2025 and 47 so far in 2026. Prosecutors charged 88 suspects in cases tied to organized theft rings, some of them minors. Armed attackers attempted to abduct David Prinçey, the CEO of Binance France, at his home earlier in 2026; he was not present.

Binance presented Withdraw Protection as a measure to add a time buffer that can slow or prevent immediate forced transfers. The feature was made available to users on May 4 with the option to extend the lock up to seven days.