OKX TR, one of Türkiye’s leading cryptocurrency exchanges, offers reimbursement of up to $500,000 through its Security Shield program, designed to protect users against account takeover attacks. The program provides protection of up to 20 times the bank deposit guarantee limit applied in Türkiye.
Editor’s note: This press release has been translated and localized into English with the assistance of AI.
ISTANBUL — OKX TR, one of Türkiye’s leading cryptocurrency exchanges, has highlighted its account protection program, Security Shield. Offering protection of up to four to 20 times the bank deposit guarantee limit applied in Türkiye, the program provides reimbursement of up to $100,000 for standard accounts and up to $500,000 for VIP accounts when a third party takes control of a user’s account and transfers assets. Users must have completed the required security steps to qualify.
The OKX TR Security Shield account protection program is designed for situations in which an unauthorized third party takes control of a user’s account and transfers assets. It covers scenarios involving phishing, malware and Trojan attacks, remote access, and SIM swapping (SIM-swap).
Users who have completed identity verification and implemented security measures can activate the program in a single step without paying any subscription or activation fees. These measures include account eligibility checks, device security checks, passkey setup, additional verification for large withdrawals, web withdrawal protection, and multi-factor authentication (MFA).
Drawing attention to the fact that cryptocurrency attacks have resulted in losses of $2.68 billion in digital assets since the beginning of the year, according to CertiK, OKX TR Chairman Mehmet Çamır said:
“OKX TR focuses on giving users confidence under all market conditions and funds the Security Shield program with its own resources. As of 2026, the state-backed deposit guarantee for individual bank accounts in Türkiye stands at TRY 1.2 million per person, per bank. OKX TR Security Shield, meanwhile, offers protection of approximately four times this limit for standard users and approximately 20 times the limit for VIP users.”
Mehmet Çamır noted that OKX is also among the pioneers in publishing proof-of-reserves reports, which demonstrate that user assets are fully backed. He said:
“OKX’s proof-of-reserves reports, launched globally in November 2022 and published automatically every month, contribute to overcoming the trust crisis in cryptocurrency markets. OKX Shield (Security Shield) is one of the clearest indicators of both OKX’s confidence in its own financial strength and the responsibility it takes for user security.
“With OKX TR Security Shield, we ask our users to protect their accounts with the strongest available security settings. We also stand behind users who take these steps, using our own resources. As OKX TR, we believe that lasting success depends not only on earning trust but also on maintaining it every day, under all market conditions.”
On October 6, OKX announced that it had received a strategic investment at a valuation of $25 billion from Circle, the developer of USDC, the world’s second-largest stablecoin; Ripple; SC Ventures, the investment arm of Standard Chartered; and Qube Research & Technologies.
This investment followed a funding round led in March by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, with approximately $200 million. Through these investments, OKX brought leading traditional financial institutions and key companies in the cryptocurrency infrastructure sector into its ownership structure within seven months.
Commenting on the addition of global banking giant Standard Chartered and leading cryptocurrency companies such as Ripple and Circle to OKX’s investor base, OKX TR Chairman Mehmet Çamır concluded:
“The world’s leading companies also recognize what sets OKX apart. We are positioning ourselves as the permanent representative of this global strength in Türkiye. OKX TR is also among the companies making significant investments in its field and bringing foreign direct investment into Türkiye. We are doing what is needed for both our country and its cryptocurrency investors, using our global financial strength to provide Türkiye’s crypto community with a platform where they can trade with confidence.”
