Binance has introduced a withdrawal protection feature that allows users to temporarily block withdrawals for 1 to 7 days to combat cryptocurrency hacking attacks. According to CoinDesk, this is an on-chain withdrawal blocking feature that users can set themselves, and once set by the user, it cannot be lifted by the exchange, except in cases of law enforcement orders. Binance Chief Security Officer (CSO) Jimmy Su explained, "We developed this feature to address physical threats, especially those targeting cryptocurrency holders."
