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Binance, the world’s largest cryptocurrency exchange by trading volume, provided Russian authorities with information on cryptocurrency donations made to Ukrainian fundraising campaigns, and the data was later used as evidence in a terrorism financing case against a Russian IT specialist, according to Reuters on August 17, citiong law enforcement documents.
The disclosure came despite Binance announcing in 2023 that it had fully exited the Russian market. Although crypto exchanges generally comply with legitimate law enforcement requests for customer information in countries where they operate, Binance had already withdrawn from the Russian market when it provided the data, the outlet reported.
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Over the past several years, some Russian citizens have used cryptocurrency platforms to send funds to organizations or initiatives that Russian authorities subsequently classified as extremist or terrorist. Rights groups tracking these cases said dozens of people have faced prosecution and convictions over such transfers, though the precise figure remains unclear.
One of the cases involves IT specialist Yuri Belenkiy, who was detained in September 2025. Russia’s Investigative Committee alleged in October that Belenkiy had transferred more than $700 to the Ukrainian military and a related group formerly known as the Azov Brigade. The Russian government has designated the group as a terrorist organization.
Mike Bystrov, founder of law firm Stellar Consulting, which advises on cryptocurrency regulation, said Binance was not required to provide the data after leaving Russia and may have been prohibited from doing so under European Union data protection law
Binance disputed that assessment, saying it does not determine criminal charges or decide how authorities use information in legal proceedings.
“Like other global financial institutions, we cooperate with lawful information requests from law enforcement globally, subject to applicable legal, privacy and regulatory requirements. Those decisions rest solely with the relevant Authorities,” a Binance spokesperson told Reuters.
The disclosure comes as Binance faces new restrictions on transactions involving Russian-linked cryptocurrency platforms.
The exchange will cease processing transactions with crypto platforms associated with Russia that were included in the European Union’s latest sanctions package. The first restrictions took effect on August 13, with an additional round scheduled for August 23.
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Source: united24media.com