bitFlyer launches anti-fraud Cooldown, deposits within 90 days after identity verification trigger a 48-hour transfer limit

Wu said he learned that bitFlyer, Japan’s largest crypto exchange, announced that it would launch the anti-fraud measure “Cooldown” on October 15. Individual users who have completed identity verification for less than 90 days will enter a 48-hour cooling-off period after each deposit of Japanese yen, during which some crypto assets cannot be transferred to external addresses. The limit amount is the total amount of Japanese yen deposits in the past 48 hours minus 100,000 yen (approximately US$634); there is no limit if the cumulative deposit does not exceed 100,000 yen in 48 hours. Each deposit is calculated separately for a 48-hour period. This rule does not apply to deposits via Quick Deposit, which already have a 7-day crypto transfer limit. Cooldown does not affect Japanese yen deposits and withdrawals, the buying and selling, holding and receiving of crypto assets.