BitFlyer launches anti-fraud cooldown, imposing 48-hour transfer restrictions
Summary
bitFlyer, Japan's largest crypto exchange, has announced the introduction of an anti-fraud measure called "Cooldown," effective October 15. This policy mandates that individual customers who complete identity verification enter a 48-hour cooldown period following any JPY deposit made within the past 90 days, during which a portion of their crypto assets will be restricted from being transferred to external addresses. This new regulation aligns with recent recommendations from Japan's Financial Services Agency and National Police Agency, which have urged crypto exchanges to enhance anti-fraud measures, particularly by implementing restrictions on withdrawals after fiat currency deposits, in a coordinated effort to prevent fraudulent activities.
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Related sources
- https://x.com/YuzoKano/status/2085857769249509488
- https://bitflyer.com/ja-jp/faq/6-20
- https://prtimes.jp/main/html/rd/p/000000151.000047991.html
- https://www.cryptopolitan.com/japan-fsa-press-crypto-exchanges-on-scams/
- https://news.dellows.jp/503562/
- https://www.neweconomy.jp/posts/598862
- https://xtela.jp/articles/crypto-exchange-withdrawal-fraud-controls-2026
- https://bitflyer.com/pub/preannounce-explanation-derivative-regulation-25032024-ja.pdf
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- https://bitflyer.com/en-jp/s/press
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- https://bitflyer.com/en-jp/faq/6-20
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- https://bitflyer.com/ja-jp/faq/3-14
- https://woz.co.jp/jpmedia/bitflyer/