Binance is under investigation by a Spanish court due to claims of misappropriation of funds. The plaintiff, JL, asserts he was denied access to his €67,550 investment deposited on the platform. A judge has mandated JL to provide formal charges within a strict time frame to proceed.
This case compounds Binance’s existing legal issues, including investigations in France and pending lawsuits in the US. Former CEO Changpeng Zhao has been called to testify but has not responded to the request, signaling worsening legal challenges for the exchange.