Binance’s former crime compliance lead steps down after detention in Nigeria

Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, has officially stepped down from the company, bringing an end to a turbulent four-year stint marked by a high-profile detention in Nigeria and intensifying global regulatory scrutiny of the crypto giant. He announced his resignation in a LinkedIn post on June 6.

“Over the past four years, I built and led Binance’s first global investigations function, growing it to more than 100 professionals, many of them former federal agents, prosecutors, and analysts,” the statement read. “Together, we helped align Binance more closely with U.S. and international enforcement standards and trained thousands of law enforcement officials around the world to better protect their citizens from financial crime.”

A former US Internal Revenue Service special agent, Gambaryan joined Binance in 2021 to bolster its anti-money laundering framework amid rising pressure from regulators. He built and led the exchange’s global investigations team, growing it to over 100 professionals and handling thousands of law enforcement requests worldwide. He also played a role in aligning Binance’s operations with international compliance norms, particularly in jurisdictions like the United States, by training law enforcement agencies on crypto-related financial crimes.

But his resignation comes after a bruising encounter with Nigeria’s legal system. In February 2024, Gambaryan and Binance’s Africa regional manager, Nadeem Anjarwalla, were detained in Abuja while meeting with local regulators. The Nigerian government later accused Binance of enabling currency speculation and money laundering, alleging it contributed to the naira’s sharp depreciation during a period of economic volatility. Charges included laundering over $35.4 million and tax evasion, though both executives denied wrongdoing.

Gambaryan remained in custody for eight months—first in a government facility and later at Kuje Correctional Centre—while Anjarwalla escaped detention in March. During his imprisonment, Gambaryan’s health deteriorated. He suffered from malaria, pneumonia, and a herniated disc that left him reliant on a wheelchair. A video showing him struggling to walk during a September court appearance prompted outcry from U.S. lawmakers and human rights groups, who described his detention as “unlawful.”

In a March 2025 speech at the DC Blockchain Summit, Gambaryan alleged that Nigerian officials had demanded user data from Binance and possibly a $150 million bribe, claiming he was being used as leverage to pressure the company—allegations the Nigerian government denied.

Mounting international pressure, particularly following the UN General Assembly in September 2024, led to a shift in Nigeria’s stance. The Economic and Financial Crimes Commission (EFCC) dropped charges against Gambaryan on October 23, 2024, citing humanitarian grounds. He was released and returned to the U.S., where he has been recovering.

Binance CEO Richard Teng described the ordeal as a “living nightmare.” Gambaryan’s wife, Yuki, welcomed his return but acknowledged the toll it had taken on their family.

Read also: President Biden commends Nigeria on Binance executive Tigran Gambaryan’s release

Gambaryan’s resignation marks a significant moment for Binance, which continues to face regulatory fire across key markets. In 2023, the US Securities and Exchange Commission (SEC) sued the company and its founder, Changpeng Zhao, for alleged securities violations and misuse of customer funds. Zhao stepped down, paid a $50 million fine, and served four months in prison. Binance itself paid $4.3 billion in penalties as part of a sweeping settlement.

In Nigeria, the company halted naira transactions in March 2024, underscoring how regulatory friction in one of Africa’s largest crypto markets can stall the ambitions of global exchanges.

For Africa-focused investors and operators, the episode reflects the increasingly high stakes of navigating compliance in fast-moving, high-growth markets. Gambaryan, who now plans to pursue new opportunities at the intersection of enforcement, tech, and compliance, leaves Binance at a time when crypto’s future in Africa hangs in the balance, amid currency volatility, evolving regulations, and governments seeking tighter control over digital assets.