Binance Employees Released After UAE Inquiry Into Client Account Fund Flows

Binance said employees questioned by authorities in the United Arab Emirates (UAE) have been released and are not under investigation. Officials had questioned them while reviewing third-party fund flows linked to a client money account on the crypto platform.

The company told Reuters that authorities sought statements from a limited number of its staff as part of what Binance characterized as a routine inquiry. The questioning centered on funds moving through an account used to hold client money, according to the company.

The disclosure follows a New York Times report that two Binance employees had been detained in the UAE in recent weeks in connection with an investigation into possible financial crimes involving the platform.

With the employees released, Binance said it is now working with Dubai Police and other UAE authorities to set up procedures for coordinating on similar inquiries.

Source: Reuters