Binance faces scrutiny over sharing Ukraine donor data with Russian authorities

Reuters reported Binance provided Russian law enforcement authorities with cryptocurrency transaction records and personal data tied to a donor who supported Ukraine’s military, and the materials were used as evidence for terrorism allegations. Russian national Yuri Belenkiy is under arrest and investigation in Russia on accusations of sending more than $700 to a fundraiser supporting Ukraine’s military. At the request of Russian authorities, Binance sent Belenkiy’s identity information, a copy of his passport and a file containing his transaction history, according to Reuters. Reuters added Binance announced a full withdrawal from the Russian market in September 2023, but the exchange still responded to information requests from local authorities after the formal exit. The case is fueling controversy over a possible violation of EU data protection rules, Reuters said.