Binance Staff Detained at UAE Airports as Authorities Examine Fund Flows

TLDR

• Two Binance employees were detained in the UAE amid inquiries into third-party client fund flows.
• Binance said the detained employees were not investigation targets and were later cleared and released.
• UAE authorities have not publicly disclosed the transactions, amounts or suspected offenses being investigated yet.
• Binance said the inquiries involved third-party fund flows passing through a client money account structure.
• The exchange said it is working with Dubai Police and other Emirates on coordination procedures. 

Two Binance employees were recently detained in the United Arab Emirates as authorities examined third-party fund flows linked to a client money account, according to reports and the company.

Binance Says Employees Were Not Investigation Targets

Binance said a small number of employees were asked to provide statements to UAE authorities as part of inquiries into third-party fund flows through a Binance client money account. The company said the employees were not targets of the investigation and were later cleared and released.

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