Binance Executive Tigran Gambaryan Resigns After Detention Ordeal in Nigeria

Binance executive Tigran Gambaryan resigns after a dramatic and difficult experience in Nigeria, ending his four-year journey with the world’s largest cryptocurrency exchange. Tigran Gambaryan, who served as Binance’s Head of Financial Crime Compliance, made his resignation public on June 8, 2025, through a LinkedIn post. His decision comes only months after he was released from an eight-month detention in Nigeria, where he faced serious accusations of money laundering and tax evasion.

Tigran Gambaryan, a former U.S. Internal Revenue Service (IRS) special agent, joined Binance in 2021 to help the company improve its anti-money laundering (AML) systems. He built Binance’s first global investigations team, which grew to over 100 experts, including former federal agents and prosecutors. Under his leadership, the team handled thousands of law enforcement requests worldwide and trained officers in financial crime prevention, helping Binance align with U.S. and international standards.

His ordeal began in February 2024, when Tigran Gambaryan and Binance’s Africa Regional Manager, Nadeem Anjarwalla, traveled to Nigeria to meet with regulators. Instead of a routine business trip, both were detained by Nigerian authorities, accused of helping Binance facilitate currency speculation and money laundering, which officials said contributed to the fall of the naira during a severe economic crisis. The Economic and Financial Crimes Commission (EFCC) charged them, along with Binance, with laundering over $35.4 million and evading taxes, charges they denied.

While Anjarwalla managed to escape custody in March 2024, Tigran Gambaryan remained detained, first in a government guesthouse and then in Kuje Correctional Centre. His health quickly worsened; he suffered from malaria, pneumonia, tonsillitis, and a herniated disc, which left him in a wheelchair and drew international attention. His wife, Yuki, Binance, and human rights groups campaigned for his release, calling his detention “unlawful” and highlighting the lack of evidence against him.

In March 2025, Tigran Gambaryan spoke at the DC Blockchain Summit, suggesting Nigerian officials used him as a bargaining chip to pressure Binance, even alleging they demanded a $150 million bribe—a claim Nigeria strongly denied. International pressure grew, especially after a video of Gambaryan struggling to walk in court went viral, prompting outrage from U.S. lawmakers and human rights organizations.

The turning point came in October 2024, when the EFCC dropped charges against Tigran Gambaryan on humanitarian grounds due to his poor health. He was released from prison and allowed to return to the United States for medical treatment. Binance CEO Richard Teng described the experience as a “living nightmare,” while Gambaryan’s wife expressed relief but noted the long recovery ahead.

Tigran Gambaryan resigns at a time when Binance still faces global regulatory challenges, including ongoing legal battles in Nigeria and scrutiny over its AML compliance. In his farewell message, Tigran Gambaryan expressed pride in his work at Binance and said he plans to continue working at the intersection of technology, enforcement, and compliance, hoping to help build trust in the crypto industry.

His resignation has sparked wider discussions about the risks faced by crypto executives in emerging markets and the need for clearer rules. For now, Tigran Gambaryan is focused on recovering and spending time with his family after missing important milestones during his detention. The story of how Binance executive Tigran Gambaryan resigns highlights both the personal and professional challenges that come with working in the fast-changing world of cryptocurrency.

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