Binance Accused of Handing Over Client Data in Terrorism Financing Case
Binance, one of the largest cryptocurrency exchanges in the world, has been accused of providing sensitive client data to Russian authorities. The information was allegedly used in a terrorism financing case against Yuri Belenkiy, an IT specialist who is awaiting trial.
According to Reuters, Binance supplied transaction records and identity documents that were later used as evidence against Belenkiy. The Russian Investigative Committee alleged that Belenkiy sent more than $700 in cryptocurrency between January 2023 and March 2024 to the Ukrainian military and a banned organization.
The case has raised concerns about Binance's data protection practices and its compliance with international regulations. Critics argue that the exchange should have been more vigilant in protecting user data, especially given the sensitive nature of the information involved.