Binance has introduced a withdrawal protection feature that allows users to temporarily block withdrawals for 1 to 7 days to counter 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. However, it is exempt in cases of a law enforcement agency order. Binance Chief Security Officer (CSO) Jimmy Su explained, "We developed this feature to respond to physical threats, especially those targeting cryptocurrency holders."
