Binance Hands Over Client Details to Russian Authorities

Binance, the world's largest cryptocurrency exchange, handed over client details to Russian authorities last year. The information was used as evidence in a terrorism financing case against a Russian IT specialist, Yuri Belenkiy.

The documents show that Binance provided transaction history for Belenkiy's crypto transfers to Ukrainian organizations. Belenkiy allegedly sent more than $700 between January 2023 and March 2024 in response to an online appeal by Arkady Babchenko, a Kremlin critic who supports Ukraine.

Babenko said he urged people inside Russia not to transfer funds to Ukrainian military fundraisers due to the risk of arrest. He also stated that it was 'inappropriate' for crypto exchanges like Binance to share details of Russian clients' donations with Russian law enforcement.

The incident raises questions about data protection laws and whether Binance complied with European Union regulations by handing over client information without a court order.