Beginning with FEX version 19.2.14, a new wallet locking feature has been introduced to strengthen the security of your wallet. If you are on a previous version of FEX, upgrade to the latest version for access to this feature.

How does the in-wallet lock function work?

With the lock function, you can choose to have your wallet automatically lock after a selected amount of time. By default, this function is not enabled, but you can easily access it through the Security menu in the Settings tab of your FEX wallet.

Choose from the following auto-lock time options:

  • 5 minutes
  • 15 minutes
  • 30 minutes
  • 1 hour 
  • 2 hours 
  • The default is Off

When the lock feature is active, your wallet will automatically lock after the duration you selected. So if you set it to lock after 30 minutes, your wallet will prompt you to enter your password again if you try to send funds, make an exchange, or view private information 30 minutes after opening your wallet. 

This does not change how incoming transactions and price updates are displayed – these will continue to function even when the wallet is locked. When locked, your wallet is in read-only mode. You can view all your asset balances; however, sending and exchanging will not be possible until the wallet is unlocked.

How do I manually lock my wallet?

If you are actively using your wallet, and want to lock it without waiting for the auto-lock to kick in, you can simply click the Lock toggle in the top right corner of your FEX wallet.

How does this work behind-the-scenes?

When your wallet is locked, your wallet files are re-encrypted to make it impossible to make any outgoing transactions (e.g. sending or exchanging), view your 12-words, or view your private keys. When you enter your password to unlock your wallet, your wallet’s files are decrypted to allow you to send transactions and see your private information again.

This in-wallet lock protects against unauthorized access of your wallet when the wallet is open and in use. It’s an increased security measure, but does not replace the need for protecting your entire computer from malicious attacks. For more information about increasing the security of your computer and protecting your blockchain assets see this article: How do I keep my money safe?

It’s important to note that this lock feature is not the same thing as 2FA. To learn more about why 2FA isn’t available in local applications, such as FEX, be sure to check out our article on the topic: Why Local Apps And 2FA Aren’t Friends – Yet

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