OKX Shield Offers Up To €500K Account-Takeover Protection In Europe

TL;DR OKX has launched Shield in Europe, a discretionary reimbursement program for qualifying account-takeover losses. Protection limits rise from €100,000 for standard users to €500,000 for VIP 4–6 customers. OKX explicitly says Shield is not insurance, deposit protection or a statutory compensation scheme. OKX is trying a different approach to exchange security in Europe: make users complete a hardening checklist, then attach a discretionary financial backstop to certain account-takeover losses. The exchange launched OKX Shield on September 22 with tiered protection limits that can reach €500,000. Protection Depends On Completing The Security Checklist Eligibility is tied to a six-step security process. The measures include account protections such as passkeys, multi-factor authentication and withdrawal safeguards. Users who satisfy the requirements can become eligible for discretionary reimbursement if a qualifying third party takes over the account. The limits are tiered. Standard users can be considered for up to €100,000, VIP 1–3 customers for up to €250,000 and VIP 4–6 users for up to €500,000. That creates a clear incentive for customers to use stronger security settings ra...