Binance Employees Cleared in UAE Detention Probe

Binance employees who were detained in the United Arab Emirates have been cleared and released after cooperating with authorities, according to the cryptocurrency exchange.

The employees, whose identities were not revealed, were stopped at airports in the UAE amid police inquiries into possible financial crimes involving Binance. However, the exchange clarified that they were not the targets or subjects of these 'routine inquiries.'

Binance stated that it is working with Dubai Police and authorities across other Emirates to establish clear procedures for handling such situations.

This incident comes after a similar case in 2024, where Tigran Gambaryan, Binance's head of financial crime compliance at the time, was detained by Nigerian authorities for eight months over money laundering charges. However, all charges against him were dropped in October 2024.