Security limitation for withdrawing from the major cryptocurrency exchange Upbit
Cryptocurrency exchange Upbit has introduced a 24-hour waiting period for withdrawals as part of its security measures.
Upbit, one of the leading cryptocurrency exchanges based in South Korea, has placed a limitation on cryptocurrency withdrawals as part of an attempt to protect user accounts from malicious attacks.
The new rule, which will take effect from November 28, will allow a digital asset withdrawal equivalent to the total value of the Korean Won (KRW) deposited only 24 hours after a withdrawal request.
“If a member with a balance of 0 won in an Upbit account deposits 1 million won and requests a 1 million won withdrawal of digital assets before 24 hours, this transaction will not take place,” Upbit said on Friday. You can do this without any restrictions 24 hours after the deposit has passed. ” It was said.
It is stated that the new rule was introduced to help the exchange prevent financial fraud in advance. Such a latency will give users a chance to block scammers when they receive a pending withdrawal request notification.
“We plan to create a reliable digital asset investment environment by taking a closer look at changes in the types of financial fraud and continuously strengthening preventive measures,” an Upbit official said. made the explanation.