London, August 17, 2026: Cryptocurrency exchange Binance last year provided Russian authorities with personal and transaction information belonging to a Russian IT specialist whose cryptocurrency donations to Ukrainian fundraising campaigns were later used as evidence in a terrorism-financing case, according to law-enforcement documents reviewed by Reuters.
The case involves Yuri Belenkiy, a 49-year-old Russian IT specialist, who Russian investigators accuse of sending more than $700 in cryptocurrency to Ukrainian military-linked organisations. The transfers were reportedly made between January 2023 and March 2024 following online fundraising appeals.
According to the documents, Russian investigators requested Belenkiy's transaction history from Binance. The cryptocurrency exchange responded with information that included transaction records and personal identification details. The material was subsequently incorporated into the Russian investigation as evidence supporting the terrorism-financing allegations.
One of the organisations mentioned in the Russian case is the Azov Regiment, a Ukrainian military formation that Russia has designated as a terrorist organisation. That designation is not shared universally outside Russia.
The disclosures have raised questions about Binance's handling of customer data and its relationship with Russian authorities. Binance announced its withdrawal from Russia in 2023, but the documents reviewed by Reuters show that Russian investigators were still able to obtain customer information from the exchange.
Binance said it responds to lawful requests from law-enforcement agencies and follows applicable legal, privacy and regulatory requirements. However, legal experts cited by Reuters questioned whether additional data-protection obligations could have applied because Belenkiy was reportedly residing in Bulgaria, potentially bringing him within the scope of European Union privacy protections.
The case highlights the continuing tension between cryptocurrency exchanges' obligations to cooperate with law enforcement and customers' expectations of financial and personal-data privacy. It also raises broader questions about how cryptocurrency transaction records can be used in politically sensitive investigations.
Belenkiy remains in Russian custody awaiting trial, according to the Reuters report. The full extent of Russian authorities' requests for information from Binance in other cases involving cryptocurrency donations to Ukraine remains unclear.
Source: Reuters
"Read the Reuters investigation"