bitFlyer introduces 48-hour crypto transfer cooldown for newly verified accounts
Japanese cryptocurrency exchange bitFlyer will launch an anti-fraud measure on October 15, imposing a 48-hour restriction on external crypto transfers following yen deposits by recently verified users.
Japanese cryptocurrency exchange bitFlyer announced plans to introduce an anti-fraud measure known as "Cooldown" on October 15, according to Wu Blockchain and crypto.news. Individual customers who completed identity verification within the previous 90 days will be placed on a 48-hour transfer hold following any Japanese yen deposit exceeding 100,000 yen (roughly $634). During this window, a portion of their crypto assets cannot be transferred to external addresses.[1][2]
The restricted transfer amount is calculated as the total JPY deposits made in the previous 48 hours minus 100,000 yen. Deposits of 100,000 yen or less are unaffected by the rule. Quick Deposit transactions are also excluded because they already carry an existing seven-day transfer restriction. Account holders will still be able to trade crypto, hold or receive assets, and conduct yen deposits and withdrawals as normal.[1][2]
According to Crypto Briefing, the newly introduced cooldown policy may help the exchange strengthen security against fraudulent activity, though it could also deter new users who prioritize rapid asset mobility.[3]
Key facts
- bitFlyer announced an anti-fraud policy called "Cooldown" scheduled to take effect on October 15.
- Customers who completed identity verification within the past 90 days will face a 48-hour outbound crypto transfer hold after depositing Japanese yen.
- The restricted amount equals JPY deposits made in the preceding 48 hours minus 100,000 yen (about $634).
- Deposits of 100,000 yen or less are not subject to the transfer cooldown.
- Quick Deposit is excluded from the cooldown policy because it already imposes a seven-day transfer hold.
- Trading, holding, receiving crypto, and yen deposits or withdrawals remain fully operational during the cooldown period.
- Crypto Briefing reported the measure could improve security but may deter new users who seek quick asset mobility.
Sources · 3 sources
- CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: bitFlyer will add a 48-hour crypto transfer hold for some new users Starting October 15, customers verified within 90 days who deposit more than ¥100,000 will face temporary limits on outbound crypto transfers, while trading and other account functions remain available. https://t.co/woVnEZbIn1
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
bitFlyer Launches Anti-Fraud Cooldown, Triggering 48-Hour Transfer Restrictions on Deposits Within 90 Days of Verification Japan’s largest crypto exchange bitFlyer announced that it will introduce an anti-fraud measure called “Cooldown” on October 15. Individual customers within 90 days of completing identity verification will enter a 48-hour cooldown period after each JPY deposit, during which part of their crypto assets cannot be sent to external addresses. The restricted amount equals JPY deposits made in the previous 48 hours minus JPY 100,000 (about $634); deposits of JPY 100,000 or less are unaffected. Quick Deposit is excluded because it already carries a seven-day transfer restriction. The measure does not affect JPY deposits or withdrawals, crypto trading, holding, or receiving assets.
Open source - CB
Crypto BriefingArticle ·
Japan’s bitFlyer adds 48-hour crypto transfer cooldown for new accounts The 48-hour crypto transfer cooldown for new bitFlyer accounts may enhance security but could deter new users seeking quick asset mobility. The post Japan’s bitFlyer adds 48-hour crypto transfer cooldown for new accounts appeared first on Crypto Briefing .
Open source