Binance Executive Leaves Company After 8-Month Detention in Nigeria

Binance executive Tigran Gambaryan is leaving the exchange after eight months of detention in Nigeria on money laundering allegations. Having been cleared of all charges, Gambaryan’s departure from Binance marks the end of a tumultuous chapter for both him and the company.

Binance Executive Tigran Gambaryan Departs

Earlier today, Tigran Gambryan shared an X post, announcing his departure from Binance. He wrote, “Today is my last day at Binance, marking the end of a chapter I’m deeply proud of.”

In a heartfelt farewell, Gambaryan reflected on his four-year tenure at Binance, where he built and led the company’s global investigations function. Addressing founder Changpeng Zhao, he praised his commitment to building a stronger compliance framework. He noted,

“[CZ] was committed to bringing in experienced leadership to help the company engage more constructively with law enforcement. His support for our mission never wavered, and I’ll always be grateful for the trust he placed in me and the team.”

Further, he highlighted the team’s notable achievements during his tenure. Notably, the team handled over 57,000 law enforcement requests and provided critical support in cases involving financial crimes. He has also led the training of thousands of officials worldwide. To exemplify, he highlighted cases like assisting the Royal Thai Police. The team helped them in taking down a massive $270 million crypto fraud scheme targeting citizens in Thailand and the US. He also pointed to the collaboration with Nigeria’s EFCC to recover over $400,000 in illicit funds and provide advanced training to their agents.

Notably, his departure comes following Coinbase’s recent data breach. The incident exposed personal details of prominent figures like Sequoia Capital’s Managing Partner, Roelof Botha.

What Happened with Tigran Gambryan?

Tigran Gambaryan was the Head of Financial Crime Compliance at Binance, who served the exchange for four years. During a business trip to Nigeria, Gambryan was arrested along with another Binance executive over money laundering allegations.

During his nearly eight-month detention, Gambaryan reportedly endured harsh conditions that took a toll on his health. Though Gambaryan suffered from malaria and pneumonia, he reportedly received inadequate medical care. In addition, in a September 2, 2024, court hearing, Gambaryan was subjected to ‘inhumane treatment’ by Nigerian authorities, as evidenced by a video. However, following consistent requests from his family and influential figures, Gambaryan was finally released and cleared of all charges in October 2024.

It is noteworthy that the Nigerian government sued Binance when the exchange was facing a lawsuit from the US SEC. While Nigeria is still pursuing the case, the SEC recently dismissed its lawsuit against the exchange.