SwissBorg Launches Withdrawal Protection to Counter Physical Crypto Extortion
SwissBorg, a leading European crypto investment app, has introduced a new security feature called Withdrawal Protection to combat physical extortion attacks. This feature imposes a non-bypassable time delay of 1 to 90 days on all external cryptocurrency withdrawals, preventing immediate asset transfers even if a user is coerced into initiating a transaction. The delay is designed to remove the incentive for real-world "wrench attacks" by eliminating the possibility of instant access to funds.
According to SwissBorg CEO Cyrus Fazel, the feature provides users with additional real-world security alongside existing digital safeguards. Once enabled, the delay applies to all external withdrawals and cannot be bypassed—even by SwissBorg support. Trading, portfolio management, and internal transfers remain unaffected. The update is part of SwissBorg’s broader security strategy, which includes MPC keyless technology and Proof of Liabilities. Withdrawal Protection is available in the latest version of the SwissBorg app.
TheNewsCrypto02/10 14:08
