Binance introduces withdrawal lock feature to counter hacking

Binance has introduced a withdrawal protection feature allowing users to temporarily block their own withdrawals for one to seven days to counter cryptocurrency hacking attacks. According to CoinDesk, this is an on-chain withdrawal lock that users can set themselves. Once activated, the exchange cannot disable it, with the only exception being an order from a law enforcement agency. Binance Chief Security Officer (CSO) Jimmy Su explained that the feature was developed to address physical threats, particularly those targeting cryptocurrency holders.