Binance Shared User Data in Terrorism Financing Case

Binance, the largest crypto exchange, has been embroiled in controversy after providing Russian authorities with user data that was used to prosecute a terrorism financing case. The exchange shared transaction records and personal details of Yuri Belenkiy, a 49-year-old IT worker who sent over $700 in cryptocurrency to Ukrainian fundraising groups between January 2023 and March 2024.

The investigation into Belenkiy's activities was led by Russian authorities, who contacted Binance through its compliance email channel. The exchange responded by providing records that included Belenkiy's date of birth, home address, phone number, passport details, and Bulgarian residency permit. These documents were later used as evidence in the case against Belenkiy.

Binance has maintained that it cooperated with a lawful request from Russian authorities, stating that 'like other global financial institutions, we cooperate with lawful information requests from law enforcement globally, subject to applicable legal, privacy and regulatory requirements.'