Binance has announced the launch of the Withdrawal Whitelisting feature

BlockBeats News, May 4th, According to official sources, Binance has announced the launch of a Withdraw Protection feature. Once Withdraw Protection is enabled, all on-chain withdrawals from user Binance accounts will be blocked within a preset lockdown window. During this period, no one, including the account owner, can withdraw any cryptocurrency assets from the platform.

Users can enable Withdraw Protection in their account settings. Once enabled, on-chain withdrawal requests will be intercepted during the selected lockdown window. Users can set the window period from 1 to 7 days, with the default window being 48 hours.

When Withdraw Protection is activated, it is set to full lockdown by default, and no one, including the user, can terminate it prematurely. This is designed for users who want to ensure that their assets are not subject to any pressure or coercion.

If users want more flexibility, they can enable "Allow Withdrawal Override." With this option, users can use a security key and an authenticator app to end the lockdown before the window period expires. Users can also choose to receive a confirmation code sent to another phone number or email as an additional security step. During the lockdown period, other functions of the user's Binance account remain unaffected, allowing them to continue trading, holding positions, and accessing the account, with only withdrawals being restricted.