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Two employees of the cryptocurrency exchange Binance(CRYPTO: BNB) were detained in the United Arab Emirates in recent weeks, according to a report published on Thursday.
Binance Staff Held for Questioning?
The detentions are part of a broader investigation into potential financial crimes involving the Binance platform, the New York Times reported, citing individuals with knowledge of the matter.
The Binance employees were apprehended at UAE airports. The report mentioned that a mid-level staff member was detained in Sharjah, taken to a police station, and held overnight. Another official from Binance’s Dubai-based subsidiary was interrogated at a police station in July.
Binance Says Employees Subjected to ‘Routine Inquiries’
A Binance spokesperson told Benzinga that a “small number” of its employees were asked to provide standard statements to UAE authorities as part of routine inquiries relating to third-party fund flows.
The company said its employees were never the targets of these inquiries, and all who provided statements were “promptly cleared and released.”
The Ministry of Interior didn’t immediately return Benzinga’s request for comment.
Binance’s No Stranger to Law Enforcement
Binance, the world’s largest cryptocurrency trading platform, has faced scrutiny from law enforcement agencies worldwide.
In 2023, Binancepleaded guilty to federal charges involving anti-money laundering violations, failing to register as a money-transmitting business and breaking U.S. sanctions.
The company paid $4.3 billion—one of the largest corporate fines in U.S. history. Founder Changpeng Zhao pleaded guilty to failing to implement proper oversight and served four months in prison.
Binance’s U.S. head of financial crime compliance was detained in Nigeria in February 2024 amid a government crackdown on cryptocurrency exchanges. He spent nearly eight months in custody before being releasedwith the help of diplomatic pressure
Photo Courtesy: Iryna Budanova on .com
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