Binance says UAE detained two employees in routine fund-flow inquiry
This digest was compiled by AI from multiple sources — links to the originals are below.
Binance said two of its employees were detained in the United Arab Emirates during recent police inquiries into possible financial crimes on the platform, then cleared and released. The company described the detentions as routine inquiries into third-party fund flows through a client money account and said the employees were not targets.
Key Facts
- The New York Times reported, citing four people familiar with the matter, that two Binance employees were detained in the United Arab Emirates in recent weeks.
- Binance said a small number of its employees were asked to provide statements to UAE authorities as part of routine inquiries into third-party fund flows through a Binance client money account.
- The company said the employees were not targets of the probe and were cleared and released.
- In 2024, Nigerian authorities charged Binance and its then head of financial crime compliance, Tigran Gambaryan, with laundering more than $35 million; both denied the allegations.
- Binance secured a licence to conduct operations in Dubai in 2022.
The NYT Report
The New York Times reported on Thursday, citing four people familiar with the matter, that two Binance employees were detained in the United Arab Emirates in recent weeks. Two of those people said the employees were stopped at airports in the Emirates. The newspaper said it was not immediately clear what UAE authorities were investigating.
Binance Response
Binance said that a small number of its employees were asked to provide statements to UAE authorities as part of what it described as routine inquiries into third-party fund flows through a Binance client money account. The company said the employees were not targets of the probe and were cleared and released. Binance said it was working constructively with Dubai Police and authorities across other Emirates to establish clear, appropriate coordination procedures.
Past Regulatory Scrutiny
In 2024, Nigerian authorities charged Binance and its then head of financial crime compliance, Tigran Gambaryan, with laundering more than $35 million. Both Gambaryan and the exchange denied the allegations. Binance secured a licence to conduct operations in Dubai in 2022.
1 source
Binance says UAE detained two employees in routine fund-flow inquiry
