Making a withdrawal
How withdrawals work, including approval, signing, and timing.
Withdrawals on KnightsVault go through a multi-step process designed to prevent unauthorised movement of funds. Here is what happens when you click Withdraw:
1. You submit the request
On Wallets → Withdraw, choose an asset, pick a whitelisted destination, enter an amount, and confirm with your 2FA code. The amount is locked in your balance immediately so you can't accidentally double-spend.
2. Compliance review
Every withdrawal is screened by our automated KYT (Know Your Transaction) provider. Most clear within seconds. Withdrawals to high-risk addresses or unusually large amounts are flagged for manual compliance review. You will see "Pending compliance" in your transaction history while this happens.
3. Approval
Below a configurable threshold, a single admin approval is enough. Above the threshold (typically $10,000), multiple admins must independently approve the withdrawal.
For executive-level approvals on large withdrawals, we use hardware security keys. The admin's hardware key signs over a hash of the exact withdrawal details — destination, amount, asset, network. This means a phishing attack that captures one approval cannot be replayed against a different withdrawal.
4. MPC signing
Once approved, the withdrawal enters the signing queue. We use Multi-Party Computation (MPC) — the private key controlling our hot wallet is split across three independent servers and any 2 of 3 must co-sign. There is no single point where a complete private key exists.
5. Broadcast and confirmation
The signed transaction is broadcast to the relevant blockchain. You will receive an email with the transaction hash. The withdrawal completes once the network confirms it (same thresholds as deposits).
How long does this take?
| Step | Typical time |
|---|---|
| Compliance auto-screen | seconds |
| Admin approval | minutes during business hours |
| MPC signing | seconds |
| Broadcast + confirmation | varies by chain (see Deposits article) |
Most withdrawals complete within 15 minutes of submission during business hours. Large or high-risk withdrawals may take longer due to manual review.
Cancellation
You can cancel a withdrawal yourself only while it is in "Pending" state. Once admin approval has been granted, cancellation requires support intervention.
Withdrawal fees
A flat per-asset network fee is shown at the time of withdrawal and deducted from the amount that lands at the destination. The exact figure is in Wallets → Withdrawal Fees.