Binance controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2026
EU questions Binance over continued operations despite wind-down order
Investigation
According to a Financial Times report carried by Reuters, European Union regulators questioned Binance about continuing to operate after a wind-down order had been issued. The available headline does not state when the questioning took place, why the original order was issued, or what result, if any, followed. In the context of a Brand Wiki controversy note, the item records only that EU regulators raised questions over Binance's continued operations despite the wind-down order. No further details, determinations, or outcomes are provided in the available event fields and source description.
Source excerpt
EU questions Binance over continued operations despite wind-down order, FT reports
2026
Rapid7 discloses Operation Asterix crypto phishing campaign
Issue disclosure
Cybersecurity firm Rapid7 disclosed a cryptocurrency phishing campaign known as Operation Asterix that targeted roughly 885,000 phone numbers across several countries, including 316,002 German mobile numbers and directories covering Hong Kong, Bulgaria, the UK, the US and Canadian fintech companies. The campaign matched 5,576 accounts to Binance users and 43,066 accounts to crypto exchange users, and used fake emails impersonating Crypto.com and fake apps impersonating Ledger, Trezor and Exodus to steal seed phrases.
Stated objective. to steal cryptocurrency investors' assets
Source excerpt
The phishing campaign led to 5,576 accounts matched to users on crypto exchange Binance, which were queued for attack, while the recovered logs also showed fake emails impersonating Crypto.com, according to a Monday report by Rapid7.
Cybersecurity firm Rapid7 unveiled a new cryptocurrency phishing campaign known as Operation Asterix, targeting roughly 885,000 phone numbers from several countries to steal cryptocurrency investors’ assets.
As part of the Asterix phishing campaign detailed by Rapid7 analysts Anna Sirokova and Jan Recinsky, attackers drove victims to fake apps impersonating Ledger, Trezor, and Exodus, seeking to steal their seed phrases.
2026
Tether freezes assets linked to potential Binance hack
Company response
Tether announced that it had frozen approximately $1.6 billion in assets linked to a potential hack of the Binance exchange. The announcement described the frozen funds as connected to the possible attack on Binance. No further details on the nature of the incident, the parties involved, or the outcome were provided in the available account. The statement characterized the action as a freeze of assets tied to the potential hack.
Company response
Remediation — Tether
Tether CEO Paolo Ardoino announced that his company had frozen approximately $1.6 billion "linked to a potential hack of the Binance exchange."
Source excerpt
Tether CEO Paolo Ardoino announced that his company had frozen approximately $1.6 billion "linked to a potential hack of the Binance exchange."
2026
Circle blocks USDC linked to potential Binance hack
Company response
In a reported incident involving Binance, Circle confirmed that it had blocked more than $800 million in USDC cryptocurrency in connection with the event. The action by Circle, the issuer of USDC, was described as a block on USDC tied to the reported incident. The source report characterized the matter as a potential hack affecting Binance. No further details on the incident, its cause, or its outcome were provided in the available information. The confirmation from Circle concerned only the blocking of the stated amount of USDC in connection with the reported event.
Company response
Remediation — Circle
Circle CEO Jeremy Allaire also confirmed that the company had blocked more than $800 million in the USDC cryptocurrency.
Source excerpt
Circle CEO Jeremy Allaire also confirmed that the company had blocked more than $800 million in the USDC cryptocurrency.
2026
Binance Confirms Cyberattack
Issue disclosure
Binance confirmed that it was targeted by a major cyberattack, according to a report. The report stated that the company suspended trading in certain products and that more than $2.5 billion in assets were frozen to prevent theft. No further details on the nature of the attack, the affected products, or the outcome were provided in the source.
Stated objective. Prevent theft of assets
Company response
Refund or compensation — Binance
Early Friday, the company said it had set aside $5 billion to make affected users whole, and was working with partners to purchase an additional $1.34 billion to cover the total amount believed to have been stolen.
Source excerpt
Binance, the world's largest cryptocurrency trading platform, has confirmed that it was targeted by a major cyberattack, prompting the freezing of more than $2.5 billion in assets to prevent their theft.
The company, which leads the global cryptocurrency market in daily trading volume, announced that it had suspended trading in certain products, AFP reported.
The Binance hack began on October 29, when attackers moved about $6.36 billion out of Binance wallets, according to TRM Labs, which linked the attack to North Korea.
2026
Binance discloses $6.3bn hack
Issue disclosure
Binance stated that $6.3bn of digital assets had been impacted by a hack. According to the company, an initial investigation suggested that an engineer's laptop had been compromised, and a subsequent investigation uncovered additional breach points. Binance said it would cover all losses. The report noted that investigators had not attributed the attack to a specific individual or group.
Binance said that $6.3bn of digital assets had been impacted by a hack. The company said an initial investigation suggested an engineer's laptop had been compromised, and a subsequent investigation uncovered additional breach points. Binance said it would cover all losses; the article reports that investigators had not attributed the attack to a specific individual or group.
Company response
Investigation — Binance
The company said while initial checks suggested an engineer's laptop had been compromised, allowing an attacker to make unauthorised withdrawals, "our subsequent investigation has uncovered additional points of breach".
Refund or compensation — Binance
The world's biggest crypto exchange said about half of those assets had been frozen but that many remained in the hands of the hackers, adding that it will "cover all losses".
Ongoing disclosure — Binance
We are still gathering the facts, and will share more directly as we have them.
Remediation — Binance
Binance said it has started recovering affected assets
Source excerpt
Cryptocurrency giant Binance said on Thursday that $6.3bn (£4.7bn) of digital assets have been impacted by what is thought to be the biggest crypto hack on record.
The world's biggest crypto exchange said about half of those assets had been frozen but that many remained in the hands of the hackers, adding that it will "cover all losses".
The company said while initial checks suggested an engineer's laptop had been compromised, allowing an attacker to make unauthorised withdrawals, "our subsequent investigation has uncovered additional points of breach".
2025
Regulators investigate Binance token offering
Investigation
In September 2025, European securities regulators, including the U.K. Financial Conduct Authority, were reported to be investigating whether Binance's token launch constituted a stock token offering and complied with securities laws. The same report also mentioned possible regulatory scrutiny in Hong Kong. The coverage described the matter as an inquiry into the nature of the token offering and its compliance with securities rules; no findings, penalties, or outcomes were stated.
Company response
Clarification — Financial Conduct Authority
In response, the FCA confirmed it was working closely with Binance to better understand the nature of its token offer, and to establish which regulations should apply to its launch.
Source excerpt
In response, the FCA confirmed it was working closely with Binance to better understand the nature of its token offer, and to establish which regulations should apply to its launch.
European securities regulators are investigating cryptocurrency exchange Binance over suspicions its recent token launch constitutes a stock token offering, according to reports emerging in the financial media.
Citing reliable sources, Bloomberg said that the DOJ and IRS officials are also investigating tax offenses in addition to money laundering matters.
2021
Binance announces compliance expansion
Company response
In July 2021, Binance announced that it was ramping up its compliance team and partnerships and localising operations. The company said it planned to double its international compliance team by year-end. The announcement came amid regulatory scrutiny of the cryptocurrency exchange.
Binance said it was ramping up its compliance team and partnerships, localising operations, and planned to double its international compliance team by year-end amid regulatory scrutiny.
Stated objective. To strengthen compliance with laws in different countries.
Company response
Remediation — Binance
The founder of the four-year-old exchange said it is hiring more people and putting in place more systems and processes to strengthen its compliance with laws in different countries.
Source excerpt
Amid intense scrutiny in Europe and the US, the Candian-born CEO wrote in a blog post that the company is ramping up its compliance team and partnerships, and localising operations to adhere to local regulations.
This includes doubling its international compliance team by the end of the year by adding high-profile individuals and advisors.
2021
UK regulator restricts Binance Markets Limited and its advertising
Ban or restriction
In a controversy noted in 2021, the UK Financial Conduct Authority said that Binance Markets Limited was not permitted to undertake regulated activity in the UK and forbade Binance from all forms of advertising by Wednesday. According to the article, Binance said the ruling would have no direct impact on its website service.
The UK Financial Conduct Authority said Binance Markets Limited was not permitted to undertake regulated activity in the UK and forbade Binance from all forms of advertising by Wednesday. The article also reports that Binance said the ruling would have no direct impact on its website service.
Company response
Clarification — Binance
Binance announced that the FCA ruling will have no direct impact on the service it provides with its website.
Source excerpt
According to the FCA, Binance Markets Limited (BML), which is owned by Binance Group, is not permitted to undertake any regulated activity in the U.K.
The FCA is also forbidding Binance from all forms of advertising by Wednesday.
Binance announced that the FCA ruling will have no direct impact on the service it provides with its website.
2021
Turkish regulator fines Binance's local operation
Fine or penalty
Turkey’s Financial Crimes Investigation Board fined Binance's Turkish operation 8 million lira (around $750,000) for allegedly violating local anti-money-laundering laws. Binance did not publicly discuss its communications with regulators.
Company response
Clarification — Binance
Binance refrained from providing any details on the fine saying it does not publicly discuss its communications with the authorities and regulators.
Source excerpt
The penalty came as the Turkish operation of Binance allegedly violated local anti-money laundering laws.
Turkey’s Financial Crimes Investigation Board (MASAK) has slapped an 8 million lira (around $750,000) fine on the local unit of the cryptocurrency exchange.
2021
Binance Turkey fined for AML non-compliance
Fine or penalty
Turkey’s Financial Crimes Investigation Board fined Binance Turkey 8 million lira after finding it violated the country’s anti-money-laundering law. The article reports that the watchdog imposed the maximum possible administrative fine.
Source excerpt
As Cointelegraph Turkey reported, the watchdog imposed the maximum possible administrative fine of 8 million Turkish lira for the alleged violation.
The Financial Crimes Investigation Board (MASAK), which serves as Turkey’s financial intelligence unit under the Ministry of Finance and Treasury, found crypto exchange Binance’s Turkey operations guilty of violating laws that intend to prevent the laundering of money acquired through criminal means.
The Financial Crimes Investigation Board (MASAK) has fined Binance Turkey 8 million lira (nearly $750,000) after the crypto exchange failed the financial watchdog’s audit for monitoring Anti-Money Laundering (AML) compliance.
2020
Binance files defamation lawsuit against Forbes
Lawsuit filed
Binance Holdings Limited filed a defamation lawsuit against Forbes Media LLC and two journalists over an article concerning a leaked "Tai Chi" document. According to the event, Binance alleged that the article contained false, misleading and defamatory statements. The claims are allegations; no court determination is reported.
Binance Holdings Limited sued Forbes Media LLC and two journalists, alleging that an article about a leaked “Tai Chi” document contained false, misleading and defamatory statements. The claims are allegations; no court determination is reported.
Source excerpt
Upon filing the complaint yesterday with the United States District Court of New Jersey, Binance declared that “the Story contains numerous false, misleading and defamatory statements about Binance.”
On Wednesday, Binance Holdings Limited sued Forbes Media LLC and two other journalists for allegedly publishing a defaming article titled title “Leaked ‘Tai Chi’ Document.