Binance workers detained in UAE as authorities investigate possible fraud: Report

One midlevel employee was reportedly stopped while traveling through Sharjah this month, taken to a police station and held overnight.

Two Binance workers were detained by UAE authorities in recent weeks as police investigated possible financial crimes involving funds that moved through the crypto exchange, The New York Times reported Thursday, citing four people familiar with the case.

Both employees were released, and Binance said none of its personnel were the subjects of the investigations.

The workers were stopped at UAE airports, with one midlevel employee held overnight at a police station in Sharjah, according to the report. Another Binance executive, who heads the company’s Dubai subsidiary, was questioned in July.

Binance said the inquiries concerned fraud involving customers and that its employees were providing routine statements about third-party fund flows.

The detentions come as Binance has strengthened its position in the Emirates, including through a $2 billion investment from state-backed MGX and a suite of Abu Dhabi licenses.

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