OKX launches Shield in Europe with up to €500.000 protection for VIP customers

OKX is rolling out OKX Shield to its European customers from today. The new feature combines extra security measures with a visible security tier and a programme that can reimburse users in certain cases of unauthorised account takeover. Regular users qualify for up to €100.000, while for certain VIP customers the figure can reach €500.000. No separate subscription is needed for the programme.

Set up security first, then activate Shield

OKX Shield is first and foremost about tightening the security of an account. Users open Shield in their OKX account and run a security scan.

Several security measures must then be enabled. These include a passkey, face verification for large withdrawals and blocking web-based withdrawals. Verification for P2P transactions must also be set to “Always”.

Once the conditions are met and the user accepts the programme terms, Shield takes on Active status. The account then displays the maximum protection amount that applies to that user.

That figure depends on the account tier. Regular customers can qualify for up to €100.000. For VIP 1 to 3 it rises to a maximum of €250.000. VIP 4 to 6 can be allocated up to €500.000.

Activating OKX Shield requires no separate paid subscription.

When can OKX Shield pay out?

The programme focuses on specific situations in which a third party gains unauthorised access to an account and withdraws funds. Examples include phishing in which an attacker genuinely takes over the account, malware, or software that allows a device to be controlled remotely.

Certain security incidents at OKX itself may also qualify. In the case of a stolen device, for example, OKX can assess the situation on an individual basis if sufficient evidence is available.

A key condition is that Shield must be active at the moment the unauthorised withdrawal takes place. Every claim is assessed separately.

The amount shown is also a maximum. An approved claim does not automatically mean the full amount will be paid out.

Not every form of crypto loss is covered

OKX Shield is emphatically not insurance or a deposit guarantee. It is a discretionary protection programme from OKX that is subject to conditions.

If a user executes or confirms a transaction themselves after being misled by a scammer, for instance, that is not covered by the programme. Trading losses, price falls and failed investments are also excluded.

Crypto held in OKX Wallet, OKX Pay, external wallets and other platforms likewise falls outside Shield. The same applies to incidents involving shared login credentials or approved API keys, among others.

OKX Shield is available to eligible, verified individual customers in the EEA, including VIP levels 1 to 6. Users can check from their account whether they qualify and which maximum protection amount applies to them.