OKX brings Shield protection program to US users with coverage up to $500,000
Crypto exchange OKX has expanded its Shield protection program to the United States, offering eligible users up to $500,000 in reimbursements if their accounts are compromised.
Crypto exchange OKX announced the rollout of its OKX Shield program in the United States, offering customers reimbursements if an outsider hijacks their account and drains funds. Standard eligible users can qualify for up to $100,000 with no activation or subscription fee, while VIP tiers 1 through 3 can receive up to $250,000 and VIP tier 4 and above can receive up to $500,000.[2][3][4][5]
To remain protected, users must enable specific security controls: setting up a passkey, turning on transaction verification and large withdrawal protection, and disabling withdrawals over the web. The program also scans linked devices for malware or rooted and jailbroken operating systems. Coverage applies to account takeovers involving phishing, malware, or SIM swaps, but remains active only while all required settings remain turned on.[4]
Former New York Governor Andrew Cuomo, who joined OKX's board in July, promoted the initiative during a virtual press conference, describing it as a voluntary demonstration of confidence in the exchange's security. OKX Head of Risk Xiancheng Han also outlined the company's vendor governance and multi-layer asset protections during the briefing.[1][4][5]
According to OKX's terms, Shield is a discretionary goodwill initiative rather than insurance, and the company reviews each claim individually. Users are limited to one approved claim per lifetime across all OKX entities, which must be submitted within 72 hours of an unauthorized transfer and is paid in stablecoins. Exclusions apply to user-approved transfers, trading losses, and assets held in OKX Wallet or external platforms. OKX first launched Shield in Europe in September and returned to the U.S. market in 2025 after paying more than $504 million following a guilty plea by its operating entity for running an unlicensed money-transmitting business.[4]
Key facts
- OKX launched its OKX Shield account reimbursement program in the United States.
- Reimbursement limits are set at up to $100,000 for standard eligible users, up to $250,000 for VIP tiers 1–3, and up to $500,000 for VIP 4 and above.
- To qualify, users must set up a passkey, turn on large withdrawal protection and transaction verification, disable web withdrawals, and maintain those settings while linked devices are scanned for malware and rooting or jailbreaks.
- The program covers takeovers via phishing, malware, or SIM swaps, but excludes user-approved transfers, trading losses, and assets stored in OKX Wallet or external platforms.
- OKX terms designate Shield as a discretionary goodwill initiative rather than insurance, requiring claims within 72 hours, limiting users to one lifetime approved claim, and paying in stablecoins.
- OKX first introduced Shield in Europe in September and returned to the U.S. in 2025 after its operating entity pleaded guilty to running an unlicensed money-transmitting business and paid over $504 million.
Sources · 5 sources
- BC
Bitcoin.com News@BitcoinNewsPost on X ·
🔥 HOT OFF THE WIRE: Former New York Gov. @andrewcuomo says his crypto awakening began way back in 2011. Now he's helping @okx push Wall Street onchain as the exchange unveils its new Shield offering with up to $500,000 in account protection. https://t.co/d7G6g8aq3m
Open source - CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: OKX launches U.S. account protection program covering up to $500K Called OKX Shield, the program promises eligible customers compensation if their accounts are compromised. https://t.co/IN4BSFdVJ3
Open source - CB
Crypto BriefingArticle ·
OKX launches Shield in the US with up to $500,000 in account protection OKX's Shield launch in the US highlights growing security concerns in crypto, emphasizing the need for robust protection measures and trust-building. The post OKX launches Shield in the US with up to $500,000 in account protection appeared first on Crypto Briefing .
Open source - UN
UnchainedArticle ·
OKX Extends Shield Program to U.S. Users With up to $500,000 in Reimbursements Crypto exchange OKX said on Tuesday that it is bringing OKX Shield , a program that reimburses customers when an outsider hijacks their account and moves funds out, to the United States. According to the company’s press release shared with Unchained, eligible U.S. customers can receive up to $100,000 once they turn on a required set of security settings, and OKX charges no subscription or activation fee. Larger accounts get higher caps. OKX said qualifying customers in VIP tiers 1 through 3 may receive up to $250,000 , and those in VIP 4 and above up to $500,000 . Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . How Shield Works To qualify, a user has to set up a passkey, switch on large withdrawal protection and transaction verification, and disable withdrawals through the web. Shield also scans linked phones and computers for malware and for rooted or jailbroken systems. OKX said protection stays in force only while every one of those settings remains on. The program targets account takeovers carried out through phishing, malware or SIM swaps. “We are so confident in our system that we will voluntarily reimburse you if you are a victim of fraud,” Andrew Cuomo, the former New York governor who joined OKX’s board in July, said during a virtual press conference Tuesday. During the same press conference OKX Head of Risk Xiancheng Han touted the exchange’s multi-layer asset protections and governance framework for handling vendors in response to questions from Unchained about how the company is approaching security beyond Shield. OKX first offered Shield to customers in Europe in September. What the Terms Say OKX’s terms and conditions call Shield “a voluntary, discretionary goodwill initiative” and states that it is not insurance. A person can receive “no more than one approved claim during that person’s lifetime” across all OKX entities, and a claim has to be filed within 72 hours of the last unauthorized transfer. The terms add that reimbursements are paid in stablecoins. Transfers a user approves are excluded even if the user was tricked into making them, as are trading losses and funds held in OKX Wallet or on outside platforms. Under its terms, OKX reviews each Shield claim individually and decides whether to pay it. The exchange returned to the U.S. market in 2025, after its operating entity pleaded guilty that February to running an unlicensed money-transmitting business and paid more than $504 million . Related Listen: How Did Hackers Take $388M From Bitget Without a User Withdrawal? The post OKX Extends Shield Program to U.S. Users With up to $500,000 in Reimbursements appeared first on Unchained .
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Crypto exchange OKX launched OKX Shield in the U.S., which it said will provide its customers with up to $500,000 if their account becomes compromised. "That's the level of trust we have in our system. Talk about putting your money where your mouth is, right?" said former NY Gov. Andrew Cuomo, now on OKX's board of directors. "That's what we're doing here."
Open source