Binance Provides User Data to Russia Despite 2023 Exit from Market

Binance, the prominent cryptocurrency exchange, has come under scrutiny after it reportedly provided Russian authorities with customer transaction details, despite its exit from the Russian market in 2023. This information was disclosed in a report by Reuters, which detailed how Binance shared data concerning Yuri Belenkiy, an IT specialist accused of financing terrorism by allegedly sending over $700 to support Ukrainian military efforts.

While Binance announced its withdrawal from Russia in September 2023, selling its operations to CommEX, the exchange's compliance with law enforcement requests has raised questions. Belenkiy, who holds a Bulgarian residency permit, was detained in September 2025, and Russian investigators sought transaction records from Binance, which were subsequently provided.

Binance's Chief Compliance Officer, Noah Perlman, previously stated that operating in Russia did not align with the company's compliance strategy. However, the exchange has a history of responding to law enforcement requests, having logged over 1,000 requests from Russian authorities since April 2020.

Legal experts have pointed out that Binance may have violated EU data protection laws by sharing this information, especially considering Belenkiy’s status as a potential EU citizen. Binance has maintained that it cooperates with lawful information requests globally, but the specifics of the data shared in this instance remain unclear.

As the situation unfolds, the implications for Binance's operations and compliance strategies in jurisdictions with stringent data protection laws are significant. The exchange has not publicly addressed whether a court order accompanied the request from Russian authorities.