After four years, Binance executive Tigran Gambaryan exits the firm, including eight months of detention in Nigeria over money laundering charges.
After being detained in Nigeria for eight months on suspicion of money laundering, Binance executive Tigran Gambaryan departs the company.
Gambaryan has been exonerated of all allegations, and his departure from Binance signals the conclusion of a turbulent period for the company and Gambaryan himself.
Tigran Gambaryan, Binance Executive, Has Resigned
Binance executive Tigran Gambryan announced his retirement from Binance in an X post earlier today.
“I am extremely proud of this chapter, which ends today as my last day at Binance,” he added.
Gambaryan reflected on his four years at Binance, where he established and oversaw the company’s worldwide investigations function, in a touching farewell.
He commended Changpeng Zhao, the creator, for his dedication to creating a more robust compliance structure. He observed,
“[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.”
He also emphasized the team’s noteworthy accomplishments throughout his time there.
Notably, the group responded to more than 57,000 requests from law enforcement and offered vital assistance in financial crime investigations.
Additionally, he has overseen the training of thousands of authorities across the globe.
He cited instances such as aiding the Royal Thai Police as examples.
The group assisted them in thwarting a massive cryptocurrency scam that targeted US and Thai citizens and cost $270 million.
Additionally, he mentioned the partnership with Nigeria’s EFCC to recover more than $400,000 in illicit funds and give its agents advanced training.
His departure is noteworthy since it follows Coinbase’s recent data leak.
Personal information about well-known people, including Roelof Botha, Managing Partner at Sequoia Capital, was made public by the incident.
What Transpired With Tigran Gambryan?
Tigran Gambaryan spent four years at Binance as the Head of Financial Crime Compliance.
Gambryan and another Binance official were arrested on money laundering charges while on a business trip in Nigeria.
Gambaryan reportedly suffered from severe conditions that negatively impacted his health throughout his nearly eight-month incarceration.
Gambaryan received subpar medical care while having pneumonia and malaria.
Additionally, a video from a court session on September 2, 2024, shows that Gambaryan was given “inhumane treatment” by Nigerian officials.
But in October 2024, Binance executive Gambaryan was finally freed and exonerated of all accusations after persistent demands from his family and influential people.
Notably, Binance was sued by the Nigerian government sued same while the US SEC was suing the exchange.
The SEC recently dropped its action against the exchange, but Nigeria is still pursuing it.
