Binance Launches Withdrawal Lock to Counter Physical Coercion Attacks

A “wrench attack” involves criminals using kidnapping, beatings or armed threats to force crypto holders to surrender their keys or transfer assets. Even two-factor authentication offers little protection against such attacks. In April 2026, an armed gang extorted more than $800,000 from a family in France, highlighting physical coercion as a new vulnerability in personal asset security.

Binance launched Withdraw Protection on May 4, 2026, allowing users to lock on-chain withdrawals for one to seven days. The lock cannot be lifted early. Rather than recovering assets after they are stolen, the feature prevents attackers from immediately moving funds even if they gain control of an account, creating time for victims to contact police and for risk-control measures to take effect.