Binance Shared Ukraine Donor Data With Russia, Report Says

Belenkiy is in a Russian jail awaiting trial.

The disclosure contradicts Binance's own account of its footprint. The exchange said in 2023 that operating in Russia was incompatible with its compliance strategy, sold the business, and kept no revenue-sharing arrangement or buyback option. Mike Bystrov, founder of Stellar Consulting, told Reuters that Binance was under no obligation to supply the records having quit the country, and may have had an obligation not to under EU law. He said that if Belenkiy was registered as an EU resident, GDPR would bar disclosure absent a court order and stringant conditions, and that Russia carries no EU adequacy designation for personal data.

Binance disputes that reading. CEO Richard Teng addressed the report in a thread Monday. He wrote that operating globally means engaging with authorities across all jurisdictions, including places where the exchange has no commercial presence. Binance does not operate in the United States, he noted, yet it responds to requests from U.S. law enforcement. Responding to a lawful request is the respnsibility of every regulated financial institution, Teng added, and "should not be taken to mean that financial institutions are partial towards any government."

Belenkiy remains in custody. A trial date has not been set.