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

Crypto exchange OKX debuted OKX Shield in the U.S., adding up to $500,000 in account protection in what former New York Gov. Andrew Cuomo says is a sign of trust. 

OKX Shield will provide customers with no subscription or activation fee up to $100,000 if their accounts are compromised and up to $500,000 for its VIP customers, the firm said on Tuesday. As financial markets change and disrupt, trust needs to be built, OKX Board Director Cuomo said on a call with reporters. 

"Why should you trust OKX?" Cuomo said. "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." 

Last month, OKX launched OKX Shield in Europe, with similar parameters. This comes amid growing concerns over the past few years about crypto scams. On Monday, California Attorney General Rob Bonta pointed to $11.4 billion lost to crypto scams in 2025 and urged residents there to be vigilant when it comes to artificial intelligence and rug pulls.  

"That's the level of trust we have in our system. Talk about putting your money where your mouth is, right?" Cuomo said. "That's what we're doing here."

Cuomo joined the OKX board of directors in July. A month earlier, OKX and New York Stock Exchange parent Intercontinental Exchange formed a 50-50 joint venture co-chaired by Cuomo to develop "next-generation infrastructure" for tokenized and digitally native financial products. 

OKX is transitioning from a crypto company to a "leading global financial technology company," Cuomo said. 

"This difference between traditional finance and the quote-unquote crypto industry — that has dissolved, if it ever existed, and we'll get to a point where there is no differentiation," Cuomo said.