Binance Employees Detained Amid UAE Fraud Investigation

Binance employees were detained at airports in the UAE amid an ongoing fraud investigation into money movement through the exchange.

The two mid-level employees, who were stopped at separate airports, were held overnight and questioned by Emirati police before being released. A third Binance official was questioned at a police station in July but has since been cleared of any wrongdoing.

Binance's main regulator is based in the UAE, and the company maintains a corporate bank account there that handles customer deposits and withdrawals. Employees are named on this account, leading investigators to question them as part of their inquiry.

The detentions have caused concern among Binance employees, with the company asking the Emirati government for assistance and expressing worries about employee safety in the country.