OKX launches OKX Shield to protect users from account takeover

Cryptocurrency exchange OKX has launched OKX Shield, a security product suite designed to protect users against account takeover (ATO) fraud. The program provides a financial safety net by potentially reimbursing customers for assets lost following unauthorized third-party access.

There is no subscription or activation fee for the service. The reimbursement limits are tiered based on user status: standard users can receive up to €100,000, VIP tiers 1-3 are eligible for up to €250,000, and qualifying VIP4+ customers can be reimbursed up to €500,000. To qualify for protection, customers must activate the service and maintain specific security safeguards within the platform.

Erald Ghoos, CEO of OKX Europe, stated that the initiative aims to provide a clear way for users to strengthen account security and provide a financial safety net as the distinction between crypto and traditional financial applications continues to blur.