OKX is putting its money where its mouth is with new protection plan: Former NY Gov. Cuomo

OKX launched its OKX Shield account protection program in the United States on Tuesday, offering up to $100,000 in coverage for eligible customers whose accounts are compromised and up to $500,000 for VIP customers. The crypto exchange said the program carries no subscription or activation fee. The U.S. rollout follows a European launch last month with similar parameters.

Former New York Governor Andrew Cuomo, now a member of OKX's board of directors, presented the plan as evidence that the company is willing to back its confidence in its own systems with financial commitments. Speaking on a call with reporters, Cuomo said trust must be built as financial markets change and face disruption, and argued that OKX is placing its money alongside customers' money as a demonstration of that trust.

Cuomo joined the OKX board in July. A month earlier, OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange, formed a 50-50 joint venture co-chaired by Cuomo to develop next-generation infrastructure for tokenized and digitally native financial products. Cuomo said OKX is moving from being a crypto company toward becoming a global financial technology company, and he argued that the distinction between traditional finance and the crypto industry has dissolved, if it ever existed.

The U.S. launch comes amid persistent concerns about crypto fraud. On Monday, California Attorney General Rob Bonta cited $11.4 billion lost to crypto scams in 2025 and urged residents to remain vigilant about risks tied to artificial intelligence and rug pulls. OKX's new protection plan is aimed at addressing customer confidence in account security as the exchange expands its U.S. presence.