Binance Shared Russian Client Data Used in Terrorism Financing Charges

Binance reportedly provided Russian authorities with transaction records and personal information of a customer, Yuri Belenkiy, which were then used to charge him with terrorism financing. Russian investigators allege Belenkiy sent over $700 in cryptocurrency between January 2023 and March 2024 to Ukrainian military and a banned organization. The data shared by Binance included Belenkiy's date of birth, address, phone number, passport number, and copies of his Russian passport and Bulgarian residency permit. Binance stated that it cooperates with lawful information requests from law enforcement globally, subject to applicable legal, privacy, and regulatory requirements. The exchange announced a full exit from Russia in September 2023, selling its local business. Legal experts suggest Binance may have violated EU data protection laws, such as GDPR, by sharing Belenkiy's data with Russia, especially given his residency in Bulgaria.