PANews reported on May 4th that Binance announced the launch of a user-controlled "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 stemmed from risk trends observed on the platform, including instances where some users were forced to transfer funds in high-risk regions. By setting withdrawal delays, users can have more time to respond and recover in extreme situations.

Data shows a significant increase in offline coercion incidents targeting crypto users in 2025. These attacks often bypass traditional account security mechanisms because the actions are performed by the user under pressure. Industry experts believe that time-lock mechanisms can alter this risk model to some extent. Binance emphasizes that this feature does not preclude law enforcement agencies from taking legal action, and advises users to strengthen API key management and privacy protection to reduce the risk of being targeted.