Binance executive Tigran Gambaryan resigns after Nigerian detention ordeal

Tigran Gambaryan, Binance’s Head of Financial Crime Compliance and a former U.S. Internal Revenue Service (IRS) special agent, has resigned from the crypto exchange company, marking the end of a tumultuous four-year tenure. The announcement, made via a LinkedIn post on June 8, 2025, comes months after Gambaryan’s release from an eight-month detention in Nigeria, where he faced money laundering and tax evasion charges.

His departure signals a new chapter for the executive, who plans to pursue opportunities at the intersection of technology, enforcement, and compliance while shedding light on the challenges faced by Binance amid global regulatory scrutiny.

Tigran Gambaryan’s resignation follows a harrowing ordeal that began in February 2024, when he and Binance’s Africa Regional Manager, Nadeem Anjarwalla, were detained in Nigeria during a business trip to discuss the exchange’s operations with Nigerian regulators. Nigerian authorities accused Binance of facilitating currency speculation and money laundering, contributing to the naira’s devaluation during a severe economic crisis.

The Economic and Financial Crimes Commission (EFCC) charged Tigran Gambaryan, Anjarwalla, and Binance with laundering over $35.4 million and tax evasion, allegations they denied. While Anjarwalla escaped custody in March 2024, Gambaryan remained detained, first in a government guesthouse and later in Kuje Correctional Centre.

His detention drew international attention, with his wife, Yuki, and Binance advocating for his release, citing his deteriorating health and the lack of evidence against him. During his imprisonment, Gambaryan suffered from malaria, pneumonia, tonsillitis, and a herniated disc, which left him reliant on a wheelchair. A September 2024 courtroom video showing him struggling to walk sparked outrage, prompting U.S. lawmakers and human rights groups to label his detention “unlawful”.

In a March 2025 speech at the DC Blockchain Summit, Gambaryan suggested Nigerian authorities viewed him as a bargaining chip to extract concessions from Binance, alleging they demanded user data and possibly a $150 million bribe, a claim Nigeria denied.

The turning point came during the United Nations General Assembly in September 2024, when international pressure reportedly shifted Nigeria’s stance, leading to the EFCC dropping charges against Gambaryan on October 23, 2024, citing humanitarian grounds due to his health. He was released from Kuje prison and returned to the United States, where he has been recovering. Binance CEO Richard Teng called the ordeal a “living nightmare”, while Yuki Gambaryan expressed relief but noted the long road to recovery ahead.

Tigran Gambaryan’s career in Binance and building its compliance framework

Tigran Gambaryan joined Binance in 2021 at a time when the exchange faced criticism for weak anti-money laundering (AML) measures. A former IRS investigator known for tracking illicit crypto transactions in high-profile cases like Silk Road and Mt. Gox, Gambaryan built Binance’s first global investigations team from scratch. Under his leadership, the unit grew to over 100 professionals, including former federal agents and prosecutors, and handled thousands of law enforcement requests worldwide. He also trained global law enforcement agencies in financial crime prevention, aligning Binance with U.S. and international standards.

Despite these efforts, Binance faced regulatory challenges globally. In 2023, the U.S. Securities and Exchange Commission (SEC) sued Binance and its founder, Changpeng Zhao, for misusing customer funds and violating securities laws. Zhao pleaded guilty, paid a $50 million fine, and served four months in prison after resigning as CEO. Binance paid $4.3 billion in penalties, and in March 2024, it halted naira transactions in Nigeria amid the ongoing legal battles.

Tigran Gambaryan’s detention was seen by some as Nigeria holding him accountable for broader issues tied to Binance’s operations, despite his lack of decision-making authority.

In his LinkedIn farewell, Gambaryan expressed pride in his contributions to Binance and signalled his intent to remain in the crypto industry, focusing on bridging technology, enforcement, and compliance.

“There’s a growing need for trusted, experienced operators,” he wrote, hinting at a potential return to public service or a role with a mission-driven organisation. His resignation comes as Binance navigates ongoing regulatory challenges, including a tax evasion case in Nigeria and global scrutiny over AML compliance.

Tigran Gambaryan’s ordeal has sparked broader discussions about the risks faced by crypto executives in emerging markets and the need for clearer regulatory frameworks. As Nigeria continues to pursue its case against Binance, Gambaryan’s exit underscores the personal toll of such disputes. For now, he is focused on recovery and family, having missed significant milestones, including his son’s fifth birthday and his 15th wedding anniversary during his detention.