Binance Provides Client Details to Russia, Fuels Data Protection Concerns
The world's largest cryptocurrency exchange, Binance, handed over client details to Russian authorities in 2025. The information was used as evidence to charge a Russian IT specialist with terrorism financing charges related to donations made to Ukrainian fundraising campaigns.
According to law enforcement documents, Yuri Belenkiy, a 49-year-old IT specialist, sent more than $700 to the Azov Brigade and the Azov Regiment, which Moscow designates as a terrorist organization. Binance provided details of Belenkiy's transactions via email to Russian authorities.
The case highlights concerns about data protection laws in the European Union. Mike Bystrov, a crypto regulation lawyer, said that if Belenkiy was registered with Binance as an EU resident, he would be covered by the bloc's General Data Protection Regulation (GDPR). This would prohibit Binance from disclosing his details without a court order.
Binance has stated that it cooperates with lawful information requests from law enforcement globally, but disputes the view that it had broken data protection laws in this case. The exchange exited Russia in 2023 due to Western sanctions imposed on Moscow after its full-scale invasion of Ukraine.