Tigran Gambaryan’s Binance Nightmare: From Crypto Cop to Nigerian Prisoner
[dropcap]T[/dropcap]igran Gambaryan, a former US federal agent turned Binance executive, now finds himself at the centre of an international dispute in Nigeria.
Also read: Untold story of Binance executive’s descent into Nigerian prison (Part I)
Once hailed as a pioneer in crypto crime investigations, Gambaryan is now detained in a Nigerian prison, accused of money laundering and caught in a geopolitical battle over the regulation of digital currencies.
His ordeal traces back to the global rise of cryptocurrency. Since Bitcoin’s introduction in 2009, crypto has promised financial independence from government control. However, the industry has evolved into a multitrillion-dollar sector, subject to legal scrutiny.
Gambaryan was once on the front lines of that scrutiny, working as a special agent for the IRS Criminal Investigation division.
He played a key role in tracking cybercriminals who used Bitcoin for illicit transactions. His expertise led to major breakthroughs, including identifying corrupt US agents in the Silk Road case, recovering stolen funds from Mt. Gox, and assisting in the takedown of the dark-web marketplace AlphaBay.
In 2021, Gambaryan made a surprising career shift, joining Binance as its head of investigations.
The move raised eyebrows among his former law enforcement peers, as Binance was already under US investigation for anti-money laundering violations.
Gambaryan insisted his mission was to clean up Binance’s operations, helping authorities tackle financial crimes using blockchain data. Under his leadership,
Binance enhanced its cooperation with global law enforcement, assisting in thousands of cases worldwide.
However, Binance’s past legal troubles caught up with it. In November 2023, the company agreed to a historic $4.3 billion settlement with US authorities for enabling illicit transactions, while its CEO, Changpeng Zhao, received a prison sentence.
Meanwhile, Nigeria accused Binance of contributing to the naira’s devaluation, as citizens turned to crypto amid an economic downturn.
Nigerian lawmakers summoned Binance executives to Abuja in December 2023, demanding explanations. Gambaryan, as Binance’s top investigator, was among those sent to negotiate.
By February 2024, the situation had escalated. Nigerian authorities detained Gambaryan and another Binance executive, Nadeem Anjarwalla, confiscating their passports and holding them under military guard.
While Anjarwalla later escaped, Gambaryan remained in custody, facing severe charges. His health reportedly deteriorated in prison, raising concerns about his treatment.
Also read: Untold story of Binance executive’s descent into Nigerian prison (Part III)
Source: Read more at arise.tv
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
