3 days ago
9
Authorities in Dubai and Sharjah recently questioned Binance staffers as part of a probe into a bank account the exchange uses to hold customer money, according to people familiar with the matter and a Binance statement.
Some staffers were signatories on the account, which authorities received complaints about. Binance said it is working with Dubai Police and other emirate authorities to coordinate procedures.
A Binance spokesperson said a small number of employees provided standard statements about third-party fund flows, but were never targets or subjects of the inquiries and were promptly cleared and released. Authorities in Dubai and Sharjah did not immediately comment.
The UAE is a key base for Binance, providing regulatory licenses and investment and serving as a home for co-founder Changpeng Zhao. The inquiries add scrutiny as the exchange rebuilds after a $4.3 billion US criminal settlement in 2023.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
English (US) ·