Yuri Belenkiy sent transfers worth more than $700. That figure is now the basis of a terrorism financing case against him, and the paper trail Russian investigators used to build it came from Binance.
Reuters reported Monday, citing law enforcement documents, that the exchange identified Belenkiy, a Russian IT specialist, as the source of those transfers. Binance also allegedly handed over his date of birth, address, phone number and passport number, plus copies of his Russian passport and his Bulgarian residency permit.
Thatâs not a transaction hash. Thatâs a complete identity package on a person facing prison in Russia for donating to Ukraine.
Heâs been in jail since September
Russian authorities detained Belenkiy in September 2025. He remains in jail awaiting trial.
Russiaâs Investigative Committee alleged he made the payments between January 2023 and March 2024, following an appeal from exiled Kremlin critic Arkady Babchenko. The money was intended for the Ukrainian military and for a group associated with the Azov Brigade, which Moscow classifies as a terrorist organization.
Under that classification, a $700 donation stops being a donation and becomes a charge that carries real time.
The email address is the part that should worry you
Investigators reportedly got two responses from case@binanceholdings.ru after they requested Belenkiyâs transaction history. Binanceâs own website had pointed Russian and Belarusian law enforcement agencies to exactly that address.
So this wasnât a leak, and it wasnât a subpoena that slipped through a gap in a compliance process. It was a documented intake channel, published by the exchange, for the agencies in question.
Binanceâs current law enforcement guidelines say it requires a valid court order, police order or warrant before handing over user information in a criminal investigation. The company hasnât said publicly which of those it received here.
Binance said it had left Russia in 2023
Hereâs the timing problem. Binance sold its Russian business to CommEX in September 2023, and said at the time that operating in the country didnât fit its compliance strategy. It also said it would keep no revenue-sharing arrangement and no option to repurchase the business.
The disclosure to investigators came after that sale. The alleged payment window, January 2023 to March 2024, straddles it.
A clean exit from a market is a claim about what you no longer do there. Answering law enforcement requests from that market through a dedicated .ru address complicates the claim considerably.
What Binance will and wonât say
Binance said it cooperates with lawful law enforcement requests subject to applicable legal, privacy and regulatory requirements, according to Reutersâ report.
It declined to discuss Belenkiyâs case. It also declined to say whether the disclosure may have breached European data protection rules, which is the question with the most weight for every non-Russian user reading this, given that Belenkiy held a Bulgarian residency permit.
We reached out to Binance and hadnât heard back at the time of writing.
How the documents got out
The case files came from The First Department, an organization that supports defendants in Russian political cases. It obtained them from one of Belenkiyâs relatives.
Which means the only reason any of this is public is that a family member handed paperwork to a legal aid group. Not a regulator, not a transparency report, not a disclosure from the exchange.
If you use a centralized exchange, thatâs the practical lesson. Your know your customer file is a single document that can be forwarded, and youâll find out where it went years later, from someoneâs relative.
The privacy pitch gets a live test
Cases like this are the argument shielded chains have been making for years, and Zcash is about to be measured against it.
Zcashâs Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. Those last three words are doing the heavy lifting. Scaling shielded payments is an engineering problem; keeping funding, security and governance intact while you do it is the part that has broken privacy projects before.
Belenkiy is still in a Russian jail cell, and the strongest piece of evidence against him is a file an exchange assembled about him before he ever became a suspect. If youâre donating to anything a government somewhere calls terrorism, assume that file exists, assume thereâs an email address published for requesting it, and act accordingly.
