Binance’s Head of Financial Crime Compliance, Tigran Gambaryan, who was detained in Nigeria for nearly eight months last year, is leaving the crypto exchange.
His departure comes just months after his release and amid broader regulatory challenges facing Binance globally.
Gambaryan, a former U.S. Internal Revenue Service agent who joined Binance in 2021, was arrested in Nigeria on charges of money laundering and currency manipulation while visiting the country on behalf of the exchange.
He was eventually released on humanitarian grounds in October 2024 due to deteriorating health, and the Nigerian government later dropped the charges against him.
Confirming his exit in a message to Bloomberg News, Gambaryan said Friday, June 6, 2025, would be his last day at the world’s largest crypto exchange.
Binance praised his contributions
A Binance spokesperson, in a statement, commended the outgoing Gambaryan for his role in the company and the crypto industry.
“Tigran has made a lasting impact on Binance, just as he did in his previous roles in law enforcement.
“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,” the statement read.
- Gambaryan gained prominence in the U.S. law enforcement community for his expertise in tracing illicit crypto transactions, earning the nickname “Crypto Wizard.”
- At Binance, his primary role was to bolster anti-money laundering protocols and assist global law enforcement agencies in asset recovery and compliance.
- His exit comes as Binance continues to navigate legal headwinds. Just last week, the U.S. Securities and Exchange Commission (SEC) moved to pause its legal case against Binance and its co-founder Changpeng Zhao.
The SEC had filed a lawsuit in June 2023, accusing the firm of mishandling customer funds, misleading investors and regulators, and offering unregistered securities.
In November 2023, Binance and Zhao admitted to violating anti-money laundering laws and U.S. sanctions. Binance agreed to pay a $4.3 billion settlement, while Zhao paid a $50 million fine and stepped down as CEO. He recently completed a four-month prison sentence in the U.S.
What you should know
Shortly after his release in Nigeria, Gambaryan had alleged that Nigerian lawmakers demanded a $150 million bribe from the cryptocurrency exchange platform for him to regain his freedom
- His claims came months after the Federal Government of Nigeria denied and debunked similar bribery allegations made by Binance Holdings Ltd’s Chief Executive Officer (CEO), Richard Teng.
- Binance CEO Richard Teng had previously claimed that the company was asked for a “secret” payment to resolve its issues in Nigeria—a claim that was strongly denied by the Nigerian government.
- Gambaryan’s departure marks the end of a turbulent chapter for both the executive and the exchange as it continues its efforts to repair global regulatory relationships and strengthen compliance frameworks.
