Binance sold its Russian subsidiary to CommEX on September 27, 2023, ending its operations and revenue in the country. Two years later, in September 2025, Russian investigators obtained data on a client, Yuri Belenkiy, suspected of transferring roughly $700 to Ukrainian military fundraisers. Reuters reviewed documents showing these files were used as evidence in a terrorism financing case. The situation exposes a lack of clarity: selling a subsidiary does not erase archives containing passports, addresses and trading histories that platforms retain for years. Binance itself disclosed in April 2022 that it had received 1,094 requests from Russian authorities since April 2020, including three from the FSB.
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