OKX said Oct. 20 that it had opened OKX Shield to U.S. customers, with eligible account-takeover losses subject to reimbursement caps of up to $500,000.
Regular users may qualify for up to $100,000, VIP 1–3 customers for up to $250,000, and VIP 4–6 customers for as much as $500,000, according to OKX. The cap displayed on a customer’s Shield page when an incident occurs determines the limit for that case. The maximum is not a promised payment.
OKX describes Shield as a discretionary reimbursement program, not insurance, and reviews claims individually. The company says enrollment and activation are free. Eligible customers may recover some losses, but they must meet security requirements and provide evidence, while OKX decides whether to reimburse.
To qualify, users must pass account and device checks, set up a passkey, enable Large Withdrawal Protection and Web Withdrawal Protection, turn on multifactor authentication for supported activities, and accept the program terms. OKX also requires customers to remain eligible and keep the protections active when an incident occurs.
OKX may consider account takeovers involving phishing, malware or SIM swaps. Its rules exclude transfers a customer authorized, including those made after being deceived, as well as trading losses and losses involving accounts outside OKX Exchange.
Customers must alert OKX and submit a formal claim no later than 72 hours after the last unauthorized transaction. The seven-day window to provide evidence starts when they file that claim. Each verified person may have only one approved Shield claim for life across OKX’s entities.
OKX generally aims to provide a claim decision or an update on timing within 15 business days, but its terms do not guarantee that schedule. The U.S. rollout followed the company’s European launch on Sept. 22.
The Block reported that OKX board member Andrew Cuomo said the offer reflected the exchange’s confidence in its security measures.
