Binance Employees Detained in UAE Amid Financial Crime Probe
The world's largest cryptocurrency exchange, Binance, has been entangled in a financial crime probe by UAE authorities. Two employees of the company were detained at airports within the UAE over the past several weeks as part of an investigation into potential financial crimes conducted on Binance's platform.
According to The New York Times citing four sources, the detentions took place while the employees were trying to leave the country. However, it remains unclear what exactly UAE authorities are investigating at this time.
Binance acknowledged that a small number of employees were questioned by UAE authorities and stated that the questioning was part of routine inquiries regarding third-party fund flows through Binance's customer fund accounts. The company also claimed that the employees who were questioned were not targets of the investigation and were released after being cleared of suspicion.
This is not the first time Binance has faced regulatory scrutiny. In 2024, Nigerian authorities charged Binance with laundering more than $35 million (approximately ¥5.6 billion). The company's CEO has also denied the allegations.