Tigran Gambaryan, Binance’s head of financial crime compliance, is leaving the world’s largest cryptocurrency exchange following an eight-month legal saga in Nigeria that captured global headlines.

CBEX, a fraudulent digital trading platform, scammed thousands of Nigerian investors by promising unrealistically high returns and freezing accounts after taking their money. The platform, which was never registered, collapsed in April 2025, leaving victims with significant financial losses.

The Nigeria has issued a red notice to hunt down the Binance executive who has previously escaped the grasps of the Nigerian authorities.

In commemoration of his heroic sacrifice he has made for the crypto industry, where the United States Digital Chamber had created an award to celebrate Tigran Gambaryan's touching story.

Nigeria is suing Binance for $81.5 billion over economic losses and tax evasion. As regulatory pressure mounts, crypto platforms are exiting the market. With mounting legal battles, is there any relief in sight for Binance?

Nigeria's EFCC arrested 792 suspects in Lagos, dismantling a cybercrime ring operating out of the Big Leaf Building, which was used for romance scams and fraudulent cryptocurrency schemes. The suspects, including foreign nationals, were found using high-tech equipment to deceive victims worldwide, primarily in the US, Canada, and Europe.

Nigeria is tightening crypto regulations to tackle fraud, introducing hefty fines and jail terms while freezing over 1,100 traders’ bank accounts. These measures, though aiming to protect citizens, risk deterring investors and stifling innovation.

Tigran Gambaryan, a Binance executive, was released after Nigeria dropped money laundering charges due to his worsening health. His detention lasted over seven months, and diplomatic pressure played a key role in securing his release.

Nigerian authorities are cracking down on unlicensed cryptocurrency firms, securing nearly $100,000 from Paparaxy Global Ventures and Lemskin Technologies for unauthorized USDT transactions. The Economic and Financial Crimes Commission has revealed that both companies entered a plea agreement, highlighting the government's commitment to regulating the cryptocurrency market and combating illegal activities.

Binance's executive, Tigran Gambaryan, just suffered another setback after he was denied bail last Friday despite his ailing health.