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Binance Staff Detained in UAE Amid Financial Crime Probe
21 Aug
Summary
- Two Binance employees were detained in the UAE in recent weeks.
- Detentions occurred amid inquiries into possible financial crimes on the platform.
- Binance states employees provided statements as part of routine client fund inquiries.
Two employees of the cryptocurrency exchange Binance were detained in the United Arab Emirates in recent weeks. This detention occurred amidst investigations by police into potential financial crimes conducted on the platform. The employees were reportedly stopped at airports within the Emirates, according to sources familiar with the matter.
Binance stated that a small number of its staff were asked to provide statements to UAE authorities. The exchange described these actions as routine inquiries concerning third-party fund flows within a Binance client money account. Binance also confirmed that the employees involved were not the targets of any probe and have been cleared and released.
