Binance leaked client information to Russian intelligence agency: Report

World largest crypto exchange, Binance, shared client data, including names and addresses with Russian financial Intelligence organisation Rosfin, an exclusive report by Reuters has revealed.
In the report released on Friday, Reuters alleged that the move was a ‘behind the scene’ attempt by the largest crypto exchange platform to strengthen its business relationship with Russia.
“The encounter, which has not been previously reported, was part of behind-the-scenes efforts by Binance to build ties with Russian government agencies as it sought to boost its growing business in the country,” the report by Reuters read.
The report detailed that Gleb Kostarev, Binance’s head of Eastern Europe and Russia, agreed to Rosfin’s request to share client data, saying that he didn’t have “much of a choice” in the situation.
A person conversant with the matter told Reuters that Rosfin was attempting to track down millions of dollars in bitcoin raised by imprisoned Russian opposition leader Alexei Navalny.
The donations, according to Mr Navalny, whose network is under scrutiny by Rosfin, were used to fund efforts to expose corruption within President Vladimir Putin’s government.
While Mr Kostarev declined to comment on the report, however, Binance said it has never been approached by Russian officials regarding Mr Navalny.
The organisation further said that it was actively seeking compliance in Russia before the war, which made it respond to requests from regulators and law enforcement organisations.
Despite calls from the Ukrainian government for Binance and other exchanges to block Russian users, Binance has continued to function in Russia since February 24, when Mr Putin ordered Russian forces to invade Ukraine.
However, several major payment and fintech companies, including PayPal and American Express, have ceased services in Russia.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette

States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”

World
Referendum: Initial results show Alberta wants to remain in Canada
Mr Carney said, “Canada is so much greater than the sum of its parts.”

NationWide
Jonathan, Ganduje, Okowa urge responsible leadership
Mr Jonathan urged the forum to mentor young Nigerians on integrity, discipline, tolerance and accountability.

Heading 3
Security agents must invite Timi Frank to prove reckless allegation Tinubu govt plotting to assassinate Atiku: APC
Mr Frank’s claim is typical opposition rabble-rousing meant to heat the polity.

NationWide
Cardiologist raises concern over sudden deaths, urges heart checks
Mr Fasan said cardiovascular diseases were becoming an increasing concern in Nigeria.

States
Troops rescue 27 kidnap victims in Katsina operation against terrorists
Mr Danja said the troops received a distress call about the activities of terrorists on Friday.

Africa
Coca-Cola system contributed $3.6 billion to COMESA economies in 2024: Report
Twenty-one nations make up COMESA.





