Cryptocurrency exchange giant, Binance, has issued a statement advocating for the release of one of its executives, Tigran Gambaryan, who is currently detained in Nigeria. Gambaryan, an American citizen, has been instrumental in assisting Nigeria’s efforts in combatting money laundering and global terrorism financing, according to the platform.
Binance revealed that Gambaryan played a pivotal role in training 70 operatives of Nigeria’s Economic and Financial Crimes Commission (EFCC) and aiding in the recovery of $400,000 for the country. Highlighting Gambaryan’s extensive law enforcement background, Binance emphasized his decade-long tenure as a U.S. federal agent, investigating various high-profile cases related to national security, terrorism financing, and cybercrime.
Gambaryan’s involvement in significant cybercrime investigations, including the Silk Road corruption probes and the Mt. Gox hack, underscores his expertise in the field. Moreover, he led investigations into platforms like Alphabay and Wall Street Marketplace, collaborating closely with agencies such as the Federal Bureau of Investigations (FBI) and the United States Secret Service.
In 2021, Gambaryan was recruited by Binance to address compliance issues, assuming the role of head of Binance’s Financial Crime Compliance (FCC) team. Under his leadership, the FCC team has been proactive in developing policies and compliance capabilities, setting new industry standards. Notably, the team’s efforts have facilitated the freezing and seizure of over $2.2 billion worth of assets globally, with significant cooperation from U.S. agencies like the FBI, DOJ, and DEA.
Binance expressed its strong belief that Gambaryan’s detention is unwarranted, given his extensive contributions to law enforcement and compliance efforts, both in the United States and internationally. The platform urged for his immediate release, emphasizing that his freedom should not be compromised amidst ongoing tensions with the Nigerian government. As Gambaryan faces a court appearance, Binance continues to advocate for his rights and stresses the importance of recognizing his dedication to law enforcement and compliance initiatives.
“For a decade, he served as a U.S. federal agent investigating cases involving national security, terrorism financing, identity theft, distribution of child pornography, tax evasion, and bank secrecy act violations.
“As part of the elite cyber investigations team in the U.S. Treasury Department’s IRS Criminal Investigations (IRS-CI) unit, Tigran led several multi-billion dollar investigations, including the Silk Road corruption investigations, BTC-e bitcoin exchange, and the Mt. Gox hack.
He also played a pivotal role in probing Alphabay, Wall Street Marketplace, Welcome2Video, and the high-profile “VIP” Twitter hack, working alongside the Federal Bureau of Investigations and the United States Secret Service. Tigran later assumed the role of the IRS-CI representative at the National Cyber Investigative Joint Task Force (NCIJTF), focusing on national security and terrorism financing.
“Tigran is so well known as the world’s preeminent cyber crimes investigator that a book, Tracer’s in the Dark, was written about his efforts to bring down some of history’s most notorious cyber criminals.
“Given this background, Tigran was hired in 2021 to help Binance fix past compliance issues. As the head of Binance’s Financial Crime Compliance (FCC) team, he has been a strong advocate for Binance to develop policies and build compliance capabilities that set new industry standards. In 2022 and 2023, Tigran’s Financial Crime Compliance team assisted global law enforcement in freezing and seizing more than $2.2B worth of assets, including more than $285M in cooperation with United States Agencies like the FBI, DOJ, DEA, and others.
