Binance exec shares details about his release from Nigerian detention

Tigran Gambaryan, a Binance executive who was held in Nigeria for eight months in 2024 facing tax and money laundering charges, provided additional details about his experience and what led to his release.

Speaking at the DC Blockchain Summit on March 26, Gambaryan, the head of financial crime compliance at Binance, said the Nigerian government had held him hostage, suggesting the criminal charges were a pretext to “get something” from Binance. According to the Binance executive, he saw signs suggesting he could be released “around a month” before he was returned to the US.

“It was around the time of the [United Nations] General Assembly in 2024 happened is when that pressure really ramped up against the Nigerian government, and it realized that I was more of a liability,” said Gambaryan. “Before that, they kinda saw me as an asset they could use to get their billions out of Binance.”

Since his handover to US authorities in October, Gambaryan has made few public statements concerning his detention and release. The Binance executive’s family and reports from Nigeria suggested that his health deteriorated after he was initially placed into custody in February, including cases of pneumonia, malaria, and a herniated disc.

This is a developing story, and further information will be added as it becomes available.