UAE police detained two Binance employees at airports in recent weeks as part of a fraud investigation into funds moving through the exchange, according to The New York Times. A third official who runs Binance's Dubai subsidiary was questioned at a police station in July. All three have been released, and Binance maintains none were targets of the probe.
The detentions come as Binance operates under its primary regulatory framework in the Emirates, where the exchange has established significant operational presence. One mid-level employee was held overnight at a Sharjah police station this month after being stopped at the airport, people familiar with the matter told the Times.
Why Were Binance Employees Questioned in the UAE?
Emirati authorities are investigating fraud related to funds moving through the Binance platform. The inquiry led police to detain two employees at UAE airports and question a third at a police station. The exchange has stated that none of the three individuals were targets of the investigation, suggesting they may have been questioned as potential witnesses or for information related to suspicious transactions.
