What Happened to Tigran Gambaryan in Nigeria? Binance Related Cases

Tigran Gambaryan, once one of the most influential figures in Binance’s compliance team, has made headlines recently for a mix of unfortunate events and career changes. In a shocking turn of events, he spent eight months detained in Nigeria over money laundering allegations, only to be cleared of all charges. 

Now, in 2025, Gambaryan has decided to part ways with Binance after facing numerous hurdles, including regulatory challenges. Let’s dive into what happened to Tigran Gambaryan, the Binance connection, and how his journey unfolded.

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Who is Tigran Gambaryan?

Tigran Gambaryan became widely recognized for his role as the Head of Financial Crime Compliance at Binance, one of the world’s largest cryptocurrency exchanges. Before joining Binance, Gambaryan was a prominent agent at the U.S. Internal Revenue Service (IRS). His expertise in tracing illicit blockchain transactions earned him the nickname “crypto wizard” in U.S. law enforcement circles. 

Gambaryan’s primary role at Binance involved enhancing the company’s anti-money laundering (AML) measures, ensuring the platform complied with global regulations. His work focused on keeping Binance secure from illegal activities, collaborating with law enforcement agencies across the globe to seize illicit digital assets.

The Arrest in Nigeria

In February 2024, Gambaryan’s career took an unexpected turn when he was arrested in Nigeria during a business trip. He was detained alongside a colleague on accusations related to money laundering. This arrest garnered international attention, particularly from the crypto community, given Gambaryan's high-profile position at Binance. His arrest raised concerns about the growing regulatory pressure on cryptocurrency exchanges and the legal challenges they faced in various jurisdictions.

The Controversy Surrounding the Arrest

The arrest triggered a series of events that brought Binance’s operations into the global spotlight. Binance CEO Richard Teng publicly accused Nigerian officials of corruption, claiming that they had sought a secret payment in exchange for resolving the case. This sparked a wave of criticism from Binance, and the company expressed its frustration with the Nigerian authorities. However, Nigerian officials denied the corruption allegations, stating that due process had been followed in the case.

Despite these tensions, the charges against Tigran Gambaryan were dropped in October 2024, and he was cleared of any wrongdoing. Following this development, Gambaryan returned to his work at Binance, though his career path was soon to take another dramatic turn.

Tigran Gambaryan’s Farewell to Binance

After months of navigating legal challenges and a deeply emotional farewell from Binance, Gambaryan announced in 2025 that he would part ways with the company. His departure marked the end of a chapter in Binance’s fight to improve compliance standards and strengthen the fight against financial crimes within the cryptocurrency world.

Binance’s Tribute to Gambaryan’s Contributions

Binance expressed gratitude for Gambaryan’s tireless work in transforming the company's compliance operations. A Binance spokesperson commented on his departure:

“We are deeply grateful for his dedication in transforming our financial crimes compliance organization. Thanks to his tireless efforts, the crypto industry is safer for all.”

In his time at Binance, Gambaryan played a pivotal role in shaping the company’s AML strategies and working closely with global law enforcement to ensure that illicit activities were detected and eliminated. His contributions were instrumental in setting up stronger compliance systems that became a benchmark in the cryptocurrency industry.

The SEC vs Binance: Legal Struggles

The legal battles surrounding Binance didn’t stop with Gambaryan’s arrest. The exchange found itself embroiled in a high-profile lawsuit with the U.S. Securities and Exchange Commission (SEC). In June 2023, the SEC accused Binance and its founder, Changpeng Zhao (CZ), of mishandling customer funds and violating securities laws.

After months of legal proceedings, Binance and CZ reached a settlement in November 2023, paying a hefty $4.3 billion in penalties. As part of the settlement, CZ was fined $50 million and served four months in prison. The SEC vs Binance case ended with significant repercussions for the platform and its executives. This legal settlement further heightened the tension between Binance and regulatory bodies across the world.

Changpeng Zhao Seeks a Presidential Pardon

In May 2025, CZ applied for a presidential pardon from former U.S. President Donald Trump. This move garnered media attention, especially after outlets like The Wall Street Journal reported on it. With this unexpected step, Zhao shifted his focus towards helping Pakistan and Kyrgyzstan develop crypto regulatory frameworks and advance blockchain adoption strategies.

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The Impact of Tigran Gambaryan's Departure

Tigran Gambaryan’s exit from Binance marks a significant shift within the company’s leadership. His departure comes at a time when Binance is navigating multiple regulatory hurdles and seeking ways to redefine its relationship with financial authorities worldwide. As Binance continues to expand, the company will likely focus on finding a new compliance leader to fill Gambaryan’s shoes.

What’s Next for Binance?

With the ongoing regulatory scrutiny and legal challenges, Binance's path forward remains uncertain. However, the company's dedication to complying with international financial standards remains strong. Binance's ability to recover from these setbacks will depend on how effectively it navigates the complex regulatory landscape and continues to build trust within the global cryptocurrency community.

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Conclusion

Tigran Gambaryan’s story reflects the challenges and complexities that come with navigating the intersection of traditional finance and the emerging cryptocurrency industry. His time at Binance, marked by significant contributions to compliance efforts, his controversial arrest in Nigeria, and his eventual departure, highlights the ever-changing dynamics of the digital finance world. As the cryptocurrency landscape evolves, Binance will need to adapt to new regulations and continue its efforts to enhance compliance, all while recovering from the challenges of 2024 and 2025.

FAQ

Who is Tigran Gambaryan?

Tigran Gambaryan is the former Head of Financial Crime Compliance at Binance, known for his significant role in strengthening AML efforts at the company.

What happened to Tigran Gambaryan in Nigeria?

In February 2024, Gambaryan was arrested in Nigeria on money laundering allegations, but the charges were dropped in October 2024, and he was cleared of wrongdoing.

Why did Tigran Gambaryan leave Binance?

After overcoming the challenges related to his arrest in Nigeria and navigating legal battles, Gambaryan decided to leave Binance in 2025 to pursue other opportunities.