Armani Ferrante, founder and CEO of crypto exchange Backpack, wants the entire industry to pump the brakes. Literally.
Ferrante argued on July 15 that all crypto exchanges and protocols should enforce mandatory withdrawal delays, calling it a universal security upgrade with zero exceptions.
The case for slowing down
“You give me any custody system and it is immediately more secure with a withdrawal delay than without it. There are no exceptions.”
The logic is straightforward. When withdrawals happen instantly, a hacker who compromises keys or exploits a vulnerability can drain funds before anyone notices. Add a delay, even a short one, and you create a window for detection, intervention, and recovery.
