Japan’s largest cryptocurrency exchange, bitFlyer, is introducing a new anti-fraud measure called “Cooldown” from October 15, 2026. The policy will apply to individual customers within 90 day
Japan’s largest cryptocurrency exchange, bitFlyer, is introducing a new anti-fraud measure called “Cooldown” from October 15, 2026. The policy will apply to individual customers within 90 days of completing identity verification. After an eligible user deposits Japanese yen (JPY), a 48-hour period will begin during which part of their crypto holdings may be restricted from being transferred to external wallets or third-party exchanges.
The restriction will be calculated dynamically based on the user’s JPY deposits during the previous 48 hours. bitFlyer will restrict crypto equivalent to the total deposited amount minus JPY 100,000, meaning deposits of JPY 100,000 or less will not be affected. Each deposit starts its own 48-hour cooldown, with restrictions lifted progressively as each period expires. Quick Deposits are excluded because they already carry a separate seven-day transfer restriction.
【お知らせ】 2026 年 10 月 15 日（木）より、詐欺被害や不正な資金移動の防止を目的として「クールダウン」を導入します。
本人確認が完了した日時から 90 日未満の個人のお客様が日本円を入金した場合、入金後 48 時間、暗号資産の外部送付に一部制限が適用されます。
詳細はこちら▼… pic.twitter.com/QUtzBeSreh
— ビットフライヤー（bitFlyer） (@bitFlyer) October 2, 2026
The measure is designed to limit the movement of newly deposited funds while reducing disruption to normal trading activity. bitFlyer said customers can continue using affected accounts for trading and other services during the cooldown, while the restriction specifically targets outbound crypto transfers. The exchange is positioning the policy as a fraud-prevention measure aimed at reducing the risk of newly deposited funds being quickly moved to external addresses.
Crypto users are mostly focused on the fraud-prevention rationale behind bitFlyer’s new Cooldown policy. bitFlyer CEO Yuzo Kano highlighted reports of suspicious phone calls impersonating bitFlyer, warning customers not to act on claims of unauthorized access or share login details without first verifying the request through the exchange’s official contact channels.
Ale Aguero pointed to the policy’s limited scope, noting that it blocks transfers to external addresses for 48 hours while leaving trading, holding, and receiving unaffected. Achivx cited $17.4 million in stablecoin volume through risk-flagged addresses over 30 days, arguing that the restriction targets a specific transaction flow rather than broadly limiting account activity.
The 48-hour window is a notable tradeoff between fraud prevention and user flexibility. Leaving trading, holding and withdrawals in yen unaffected keeps the restriction narrowly targeted. @btcfoxx puts these exchange security changes into context.
— Ale Agüero 愛麗 (@alealeaguero) October 2, 2026
The deposit-based structure also drew attention. Reinforce noted that each JPY deposit starts its own 48-hour countdown, meaning multiple deposits during the first 90 days can create overlapping restrictions rather than a single fixed lockup period. While Macro Bombastic described the 48-hour wait as difficult, they also acknowledged the seriousness of fraud risks in Japan.
The bitFlyer change comes as Japanese authorities push exchanges to strengthen controls against crypto-related fraud. In August, Japan’s Financial Services Agency (FSA), together with the National Police Agency, called for measures including temporary withdrawal restrictions after fiat deposits or crypto purchases, stronger transaction monitoring, and faster action when suspicious activity is detected.
The major concern is that fraudsters can move stolen funds through crypto platforms quickly once money reaches an exchange account. Japan’s FSA identifies patterns such as unusually large or frequent transactions, abrupt crypto withdrawals, and transfers to wallets associated with illicit activity as indicators that exchanges should scrutinize. In June, the FSA ordered moomoo Securities to halt new account openings for three months after uncovering a series of compliance, anti-money laundering (AML), and cybersecurity shortcomings.
The development could also push exchanges toward more risk-based controls rather than relying only on identity verification at account opening. Binance Japan, for example, already uses withdrawal questionnaires, warnings for potentially risky addresses, and temporary withdrawal restrictions in certain circumstances. This suggests that exchange security is increasingly shifting toward monitoring what users do after onboarding, not simply verifying who they are.
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