Binance Faces Police Scrutiny Over UAE Customer Funds Account

Binance Holdings Ltd., one of the world's largest crypto exchanges, is facing new scrutiny in its key market in the United Arab Emirates (UAE). Police inquiries involving Binance employees in Sharjah and Dubai have been made as part of a probe into a bank account used to hold customer funds. Some of these employees were signatories on the account, which authorities had received complaints about.

According to people familiar with the matter, investigators questioned several Binance staffers as part of the inquiry. While details are still scarce, this incident is testing the crypto exchange's reputation in a country that has become one of its most important bases.