SwissBorg, a European crypto investing platform, has launched a withdrawal delay feature called Withdrawal Protection that imposes a mandatory time-lock of up to 90 days on all crypto withdrawals, aimed at deterring physical "wrench" attacks in which victims are coerced into transferring their digital assets.
What Happened: Time-Lock Against Extortion
The feature, now available in the latest version of the SwissBorg app, lets users set a waiting period of one to 90 days on outgoing crypto transfers. The delay cannot be overridden — not even by SwissBorg's own support team.
Once activated, the lock applies to all external crypto withdrawals while leaving trading, portfolio management, and internal transfers unaffected.
Users can deactivate the feature at any time, but the same delay period must pass before withdrawals return to instant access.
"Security must go beyond simply protecting accounts from hackers," said Cyrus Fazel, co-founder and CEO of SwissBorg. "Crypto is reaching a point of widespread adoption, so it's equally important to protect people in real-world situations."
Also Read: Binance SAFU Fund Doubles Down With 4,225 BTC Buy, Now Holds $734M In Bitcoin
Why It Matters: Physical Threats Growing
A rising number of real-world extortion attempts — in which attackers physically force crypto holders to unlock wallets and send funds — has made account-level digital security insufficient on its own. By making instant payouts technically impossible, the time-lock removes the incentive for attackers who depend on speed and intimidation.
SwissBorg said the feature complements its existing security infrastructure, which includes MPC keyless technology and transparent Proof of Liabilities.
Read Next: Can Ethereum Finally Break Past $2,150?