OKX Shield Update
Key points
OKX introduces OKX Shield, a program for reimbursing eligible users for losses due to account takeovers.
- OKX Shield is a voluntary program available to eligible KYC users for reimbursement of losses from unauthorized account access.
- Users must complete six required actions to activate OKX Shield, including passing eligibility checks and enabling security features.
- The program covers specific unauthorized withdrawal incidents but excludes user-initiated transactions and other losses.
- Claims must be submitted within 72 hours of the last unauthorized transaction, with supporting information required within seven days.
A summary by OKX Payback. Check the full text below and the original on OKX for exact terms.
Full announcement (rewritten in plain English)
OKX is launching OKX Shield, a voluntary program that may reimburse eligible users for losses in their OKX Exchange accounts due to third-party account takeover (ATO) incidents. OKX Shield is not insurance, a compensation scheme, a deposit guarantee, or a promise to reimburse losses. Participation, eligibility, reimbursement limits, and claim results depend on the OKX Shield Terms and Conditions. Only eligible KYC users can access OKX Shield.
Benefits of OKX Shield
- Reimbursement for account takeovers: Eligible losses from unauthorized access to an OKX Exchange account may be reimbursed.
- Tiered reimbursement limits: Maximum reimbursement is up to 100,000 USD for regular users, 250,000 USD for VIP 1–3 users, and 500,000 USD for VIP 4–6 users.
- No extra fees: Eligible users can activate OKX Shield without any additional cost.
- Regular security checks: Account eligibility, device health, and security controls are checked before and during the program to ensure user protection.
- Automatic reactivation: If OKX Shield becomes inactive due to unmet conditions, it will automatically reactivate once the issues are resolved and conditions are verified.
OKX Shield does not guarantee payment. The outcome depends on OKX's review, available evidence, the applicable limit, the Terms and Conditions, and any exclusions. Each user, based on KYC identity, can receive reimbursement for only one approved claim during their lifetime across all OKX entities, even if that claim is below the reimbursement limit.
Steps to activate OKX Shield
OKX Shield does not activate automatically. Eligible users must complete all six required steps:
- Pass the account eligibility check.
- Pass the device health check for current and linked devices.
- Enable Passkey.
- Enable Large Withdrawal Protection.
- Enable Web Withdrawal Protection.
- Set up MFA for all supported activities.
After completing these steps, review and accept the applicable Terms and Conditions, then click Activate OKX Shield.
APP
1. Main Entrance
2. Landing Page
Web
1. Main Entrance
2. Landing Page
What is covered?
According to the Terms and Conditions and OKX's review, the program aims to reimburse eligible users for losses from unauthorized withdrawals due to unauthorized access, qualifying credential phishing, qualifying Trojan or malware attacks, malicious remote control without user consent, and SIM-swap attacks while OKX Shield is active. Transactions that the user initiated, authorized, confirmed, or signed are not covered, even if the user was deceived. Investment or trading losses, losses outside the OKX Exchange account, API key disclosure, duplicate reimbursements, user negligence, and program abuse are also excluded. Other exclusions may apply.
If you think your account has been taken over
Contact OKX right away through Customer Support in the App/Web Help Centre or via online chat. A formal claim must be submitted within 72 hours of the last unauthorized transaction, and any requested supporting information must be provided within seven days of the formal claim. For complete details on the program's scope, eligibility, reimbursement rules, exclusions, claim process, and appeals, read the OKX Shield Terms and Conditions.
OKX Payback rewrote this official OKX announcement in plain English. If anything differs, the original announcement on OKX prevails.