bitFlyer introduces 48-hour anti-fraud cooldown on deposits for newly verified accounts in Japan, restricting external transfers of crypto assets.
Regulation & Gov ·
bitFlyer announced a new anti-fraud mechanism called "Cooldown" beginning October 15, which will impose a 48-hour hold on external transfers of cryptocurrency for newly verified account holders. The restriction applies to individual customers within 90 days of completing identity verification and is triggered each time they make a Japanese yen deposit.
The blocked transfer amount is calculated as the total yen deposits made in the preceding 48 hours, minus JPY 100,000 (approximately $634). Deposits of JPY 100,000 or less face no restrictions. Quick Deposit transfers are exempt because they already enforce a separate seven-day transfer restriction. The cooldown does not limit yen deposits or withdrawals, crypto-to-crypto trading, asset holding, or the receipt of transferred assets from other parties.
The scope and duration of the measure remain tied to the 90-day verification window, after which the restriction presumably ceases to apply. No public statement has addressed whether bitFlyer intends this as a permanent policy or plans to adjust it in response to fraud patterns or user feedback.