WuBlockchain
Japan's bitFlyer will introduce an anti-fraud measure called Cooldown on October 15. For individual customers within 90 days of completing identity verification, each JPY deposit will start a 48-hour period during which part of their crypto assets cannot be sent to external addresses.
The restricted amount equals JPY deposits made in the preceding 48 hours minus JPY 100,000, or 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 targets outbound crypto transfers, not account activity more broadly. JPY deposits and withdrawals, crypto trading, holding and receiving assets remain unaffected.
Frequently asked questions
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Who is subject to bitFlyer's Cooldown measure?
It applies to individual customers within 90 days of completing identity verification.
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How long does the transfer restriction last?
Each JPY deposit starts a 48-hour period during which part of the customer's crypto assets cannot be sent to external addresses.
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How does bitFlyer calculate the restricted amount?
It equals JPY deposits made in the preceding 48 hours minus JPY 100,000, about $634. Deposits of JPY 100,000 or less are unaffected.
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Does Cooldown apply to Quick Deposit?
No. Quick Deposit is excluded because it already carries a seven-day transfer restriction.
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Can affected customers still trade or withdraw JPY?
Yes. The measure does not affect JPY deposits or withdrawals, crypto trading, holding or receiving assets.
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