bitFlyer to Introduce 48-Hour Crypto Transfer Cooldown for Newly Verified Users
Japan-based crypto exchange bitFlyer will introduce a new anti-fraud measure on October 15 that will temporarily restrict certain cryptocurrency transfers following Japanese yen deposits by recently verified individual customers.
According to information shared by Wu Blockchain, customers who completed identity verification within the previous 90 days will be subject to a 48-hour “Cooldown” period after each JPY deposit. During that period, a portion of their crypto assets will be restricted from being sent to external addresses.
Restriction Applies After JPY Deposits
Under the new policy, the amount subject to the transfer restriction will be calculated based on JPY deposits made during the preceding 48 hours.
The restricted amount will equal those JPY deposits minus JPY 100,000, or about $634. Deposits of JPY 100,000 or less will therefore not be affected by the new Cooldown measure.
The restriction is tied specifically to transfers of crypto assets to external addresses. It does not prevent customers from carrying out other activities on the platform during the cooldown period.
The measure is scheduled to take effect on October 15 and applies to individual customers who are within 90 days of completing identity verification.
Quick Deposit Remains Subject to Separate Rule
bitFlyer’s Quick Deposit service is excluded from the new Cooldown mechanism because it already has a seven-day transfer restriction, according to the information shared by Wu Blockchain.
This means deposits made through that service remain markets governed by the existing seven-day restriction rather than the new 48-hour cooldown framework.
The distinction separates the new anti-fraud measure from the exchange’s existing controls for Quick Deposit transactions.
Trading and Other Account Activity Unaffected
The new policy does not affect JPY deposits or withdrawals, cryptocurrency trading, the ability to hold crypto assets, or the receipt of cryptocurrency, according to the announcement.
The restriction instead focuses on the movement of certain crypto assets to external addresses following qualifying JPY deposits.
For recently verified customers, the amount available for external transfer during the 48-hour period will depend on the value of JPY deposits made over the preceding 48 hours and the JPY 100,000 threshold.
The measure is scheduled to begin on October 15, giving customers within the 90-day verification window a specific new condition to consider when transferring cryptocurrency off the exchange after making JPY deposits.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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