OKX launches OKX Shield in the US with up to $500,000 in account protection
OKX Shield goes live in the United States
Crypto exchange OKX has launched OKX Shield in the United States. An exchange is a platform where people buy, sell, and hold crypto.
The company said on Tuesday that the plan covers customers up to $100,000 if their accounts are compromised, and up to $500,000 for VIP customers. OKX said there is no subscription or activation fee.
OKX Board Director Andrew Cuomo, a former New York governor, presented the plan as a sign of trust in the exchange.
The numbers behind the plan
- Coverage of up to $100,000 for standard customers whose accounts are compromised.
- Coverage of up to $500,000 for VIP customers.
- No subscription fee and no activation fee, according to OKX.
Why OKX says it is offering this
Cuomo said trust needs to be built as financial markets change and disrupt.
"Why should you trust OKX?" Cuomo said on a call with reporters. "Because OKX trusts OKX's system, and they're putting their money right next to your money, which is the ultimate evidence of trust and confidence."
He added: "That's the level of trust we have in our system. Talk about putting your money where your mouth is, right? That's what we're doing here."
Europe launch came first
OKX launched OKX Shield in Europe last month with similar parameters. The US rollout follows that earlier launch.
Scam losses cited by California's attorney general
The US launch comes as concerns about crypto scams have grown over the past few years. On Monday, California Attorney General Rob Bonta said $11.4 billion was lost to crypto scams in 2025 and urged residents in the state to be careful about artificial intelligence and rug pulls. A rug pull is a type of crypto project that is abandoned after taking users' money.
Cuomo's role and the ICE joint venture
Cuomo joined the OKX board of directors in July. A month before that, OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange, formed a 50-50 joint venture co-chaired by Cuomo. The venture is aimed at developing "next-generation infrastructure" for tokenized and digitally native financial products.
Cuomo said OKX is moving from being a crypto company to a "leading global financial technology company." He also said the line between traditional finance and what he called the crypto industry has faded, if it ever existed, and that he expects the two to become indistinguishable.
What is confirmed
OKX said OKX Shield is available in the US with coverage of up to $100,000 for customers and up to $500,000 for VIP customers, with no subscription or activation fee. The firm previously launched the plan in Europe. Cuomo's comments were made on a call with reporters, and his board appointment and the joint venture with Intercontinental Exchange are stated facts from the reporting.
What is still unclear
The source material does not explain how claims would be assessed, what incidents qualify for coverage, or how quickly payouts would be made. It also does not say how many customers the plan covers or whether the coverage is insurance or a company-funded program.
Why it matters
The plan puts a stated dollar figure on account protection at a time when scam losses are a public concern. It also shows OKX presenting itself as part of mainstream finance, a shift Cuomo described directly.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.