Crypto exchange OKX has launched a new US protection program offering eligible customers up to $500,000 for compromised accounts. The initiative aims to strengthen customer confidence as cryptocurrency scams continue to threaten investors. Former New York Governor Andrew Cuomo, now an OKX board director, views the program as evidence of the exchange’s confidence in its security systems.
OKX Shield Offers Protection for Eligible Customers
OKX Shield provides up to $100,000 in account protection without subscription or activation fees. Additionally, VIP customers can access coverage of up to $500,000, according to the company’s Tuesday announcement.
Cuomo joined OKX’s board in July and emphasized the importance of trust in financial services. Moreover, he linked the protection plan to the exchange’s willingness to share financial responsibility with customers.
The launch follows OKX’s introduction of a similar program in Europe last month. Consequently, the initiative expands the company’s efforts to address security concerns across major markets.
Rising Crypto Scams Increase Demand for Security
The announcement comes as authorities warn about escalating cryptocurrency fraud. California Attorney General Rob Bonta recently highlighted $11.4 billion in crypto scam losses during 2025. He also urged residents to watch for artificial intelligence scams and fraudulent token projects.
Meanwhile, OKX continues expanding beyond cryptocurrency trading. In June, the exchange and Intercontinental Exchange established a 50-50 joint venture focused on tokenized financial products.
Cuomo believes traditional finance and crypto will increasingly converge. Hence, OKX Shield could support the company’s broader ambition to become a global financial technology provider.
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