Binance Shared User Records With Russian Investigators
Binance provided Russian investigators with identity documents and cryptocurrency transaction records that were later used in a terrorism financing case against Russian IT specialist Yuri Belenkiy, according to an Aug. 17 Reuters investigation. The exchange reportedly responded to Russian law enforcement requests during 2025, sharing personal details and transaction history tied to Belenkiy.
What the records contained
The data shared with Russian authorities included Belenkiy’s address, telephone number, date of birth, passport and Bulgarian residency permit. Russian investigators cited his Binance transaction history as part of the evidence supporting a criminal charge of terrorism financing.
- Belenkiy, 49, is accused of transferring more than $700 in cryptocurrency to organizations connected with Ukraine’s military.
- He remains detained in Russia while awaiting trial.
- Reuters said it could not establish whether Belenkiy had registered with Binance as a Bulgarian or European resident.
Neither his lawyer nor Russian authorities responded to Reuters’ questions about Binance’s reported role.
How the Transaction Data Was Used
Documents reviewed by Reuters showed that Russia’s Investigative Committee sent Binance a request for Belenkiy’s transaction history. The exchange reportedly responded with a data file confirming that Belenkiy initiated transfers to a cryptocurrency wallet promoted by exiled Kremlin critic Arkady Babchenko.
Babchenko had published wallet addresses while raising money for medical equipment for Ukrainian soldiers. Russian investigators allege that Belenkiy made payments between January 2023 and March 2024 following those appeals.
Azov Brigade allegations
The Investigative Committee also accused Belenkiy of sending funds to a group associated with the Azov Brigade, which operates within Ukraine’s National Guard. Russia designates Azov as a terrorist organization, although other jurisdictions do not necessarily share Moscow’s classification.
Evidence in the case file
Reuters reviewed an interim case outline sent to the Russian prosecutor general’s office. The document cited the Binance transaction records among the grounds for bringing terrorism financing charges.
The First Department, a legal support organization assisting defendants in politically sensitive Russian cases, obtained the documents from one of Belenkiy’s relatives. Reuters said it could not independently confirm how the organization received them.
Binance’s Response and Its Russia Exit
Binance declined to discuss the confidential request or Belenkiy’s individual case. In a statement, the exchange said: “Like other global financial institutions, we cooperate with lawful information requests from law enforcement globally, subject to applicable legal, privacy and regulatory requirements.”
The company added that it does not create national laws, determine criminal charges or control how governments use information in court proceedings. Binance said those decisions rest with the relevant authorities.
An official Binance page instructs Russian and Belarusian law enforcement agencies to send requests to a dedicated address. Reuters reported that Russian investigators received two replies from that address. The page says Binance provides information and support as required by law, but it does not explain which Binance entity handles Russian requests, which national law governs each disclosure, or how the exchange evaluates requests involving possible political prosecutions.
Russia exit and continuing contact
Binance announced in September 2023 that it would exit Russia, saying operating there was incompatible with its compliance strategy. Its official statement said Binance would have no continuing revenue share or repurchase option, and the customer migration and closure of Russian services were expected to take up to one year.
Lawyer Mike Bystrov told Reuters that Binance had no obligation to provide the records because it had left Russia. Binance disputed his interpretation but did not say which law required or permitted the disclosure.
Continued communication with investigators does not by itself show that Binance resumed commercial operations in Russia. Companies can retain historical customer records and respond to information requests after leaving a market. CommEX later stopped operating after acquiring Binance’s local business; as previously reported, the proposed transition became uncertain.
Privacy and GDPR Questions
Belenkiy holds a Russian passport and a Bulgarian residency permit. Bystrov said European Union privacy protections could apply if Belenkiy registered his Binance account as an EU resident. Under that interpretation, transferring personal information to Russia could require strict safeguards because the European Union does not recognize Russia as providing adequate data protection.
The legal assessment would depend on Belenkiy’s account registration, the Binance entity controlling his data and the authority used for the transfer. Reuters could not establish whether he registered as a Bulgarian resident. His lawyer did not answer that question, and Binance did not identify the entity that processed the request.
The European Data Protection Board declined to comment on the individual case, saying enforcement responsibility rests with national data protection authorities. Bulgaria’s Commission for Personal Data Protection did not respond to Reuters’ questions about whether any rules had been breached. Bystrov said Binance “may” have had an obligation not to disclose the information under EU law, but no regulator or court has reached that conclusion.
The available documents concern only Belenkiy. Reuters could not determine whether Binance identified other people who donated through the same wallets or whether Russian authorities opened related cases using exchange data.
What Happens Next
Belenkiy remains in detention pending trial. Russian authorities have not announced a trial date, while his lawyer has not publicly addressed the accuracy of the transaction evidence or Binance’s disclosure.
The criminal court may examine the transfers and other evidence when proceedings begin. Any GDPR inquiry would be separate and would likely require a European regulator to establish where Belenkiy’s account was registered and which Binance entity controlled his records.
The disclosure also adds to wider scrutiny of Binance’s compliance operations. In related coverage, Binance CEO Richard Teng said the exchange works with law enforcement agencies worldwide.
