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Market News

Treated like a caged animal in Nigeria, family suffered: Binance’s Tigran  

Written By:
Shruti Lakhlani

Reviewed By:
Vaibhav Jha

Last updated: February 15, 2025 5:41 PM
Published 2025-02-15
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Binance executive Tigran Gambaryan has claimed that he was treated like an animal in Nigeria.

A few months ago, a hazy video emerged from a courtroom in Nigeria, that shocked the world. Binance executive and US citizen Tigran Gambaryan, who was jailed in Nigeria for over eight months, was being dragged to court by a security official, as he limped his way, using a crutch for support. Quite frustrated over the inhumane ordeal, Tigran yells out in the video, “This is so fuc**d up.”

Now, months later, after Tigran managed to secure bail on health grounds and flew his way to home in the United States from a Nigerian jail, he has finally started opening up about his experience in the prison for eight months. Tigran was serving as Binance executive in Africa when he was first invited to Nigeria for a meeting with government officials and later arrested on money laundering and tax evasion charges.

Tigran has accused the Nigerian government and officers of DSS (security services of Nigeria) of trying to extort $150 million from Binance by making him a scapegoat. Meanwhile, Nigeria has dropped money laundering charges against Tigran but have maintained that Binance has conducted unreported crypto transactions worth $26 billion from Nigeria.

In a heart-wrenching statement on X (formerly Twitter), Gambaryan recounted his painful ordeal during his 214-day detention in Nigeria. Gambaryan, a U.S. citizen and former Head of Financial Crime Compliance at Binance, expressed deep emotional distress about the suffering his imprisonment caused his family.

Many requested that I stay on and provide further commentary on the issues I posted about yesterday. Here’s the hard truth: what I shared was meant to fill in the gaps left by Wired and NPR’s reporting.

The reality is that last year was incredibly painful for me and my family. I…

— Tigran Gambaryan (@TigranGambaryan) February 15, 2025

Gambaryan revealed how his wrongful detention, based on dubious charges of financial irregularities related to Binance’s operations, severely impacted his family’s well-being. He shared how videos of his mother and wife in tears, along with his own struggles in custody, added to the pain. In a candid post, he urged to put this nightmare behind him and emphasized how difficult it was to endure seeing his loved ones suffer.

On September 2, 2024, a viral video showed Gambaryan limping toward a court hearing, visibly in pain, yelling at Nigerian officials. “This is so fu***d up!” he screamed, expressing frustration at the harsh treatment and lack of assistance. Despite his deteriorating health, including a need for urgent surgery for a herniated disc, Gambaryan’s bail was contested, and his medical records were delayed.

His case suffered from political and legal complications due to the Nigerian Economic and Financial Crimes Commission which downplayed the seriousness of his medical state. The extended court proceedings create ongoing distress which affects Gambaryan as well as all members of his family who face psychological harm because of his unfair judicial process.

Also Read: The indefinite jail of Binance Executive in Nigeria is not due process

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Shruti Lakhlani- Crypto Journalist at The Crypto Times
By Shruti Lakhlani
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Shruti Lakhlani is a Crypto Journalist with over 5 years of experience in media and digital content. She specializes in covering the latest developments in the cryptocurrency industry, including major updates in the U.S. markets and global regulatory policies.
Vaibhav Jha - Former Editor In The Crypto Times
By Vaibhav Jha
Vaibhav Jha is an Editor and Content Head at The Crypto Times. He comes on board with a vast array of experience working as a journalist for leading national and international English newspapers. He has a penchant for research and storytelling is his forte. When not working, Vaibhav can be found watching Hindi classic movies or listening to 90's music.

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