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Binance Official Collaborates With Nigerian Authorities, Recovers $400,000 And Trains 70 EFCC Agents

Amidst a backdrop of legal proceedings, Binance, a prominent cryptocurrency exchange, has asserted the invaluable contributions of one of its detained executives, Tigran Gambaryan, in bolstering Nigeria’s efforts against money laundering and terrorism financing.

According to a statement released by the platform on Wednesday, Gambaryan, an American citizen, played a pivotal role in training 70 operatives of the Economic and Financial Crimes Commission (EFCC) and aiding in the recovery of $400,000 for the country.

Expressing dismay over Gambaryan’s current predicament at the hands of the Nigerian government, Binance has fervently called for his immediate release. Emphasizing that his liberty should not be compromised amidst the ongoing dispute with Nigerian authorities, the platform underscored Gambaryan’s extensive background in law enforcement, particularly in combating various forms of cybercrime and financial malfeasance.

The statement elaborated on Gambaryan’s illustrious career, detailing his tenure as a U.S. federal agent specializing in investigations related to national security, terrorism financing, and cybercrime. Notable cases investigated by Gambaryan include the Silk Road corruption scandal, BTC-e bitcoin exchange, and the Mt. Gox hack, among others.

Furthermore, Gambaryan’s role as the head of Binance’s Financial Crime Compliance (FCC) team was highlighted, emphasizing his instrumental efforts in rectifying compliance issues and enhancing regulatory standards within the industry. The FCC team, under Gambaryan’s leadership, collaborated with global law enforcement agencies to freeze and seize over $2.2 billion worth of assets, including substantial cooperation with U.S. agencies such as the FBI, DOJ, and DEA.

Notably, Gambaryan and his FCC team responded to numerous information requests from Nigerian law enforcement agencies, aiding in investigations related to scams, fraud, money laundering, and other criminal activities. This collaboration resulted in significant asset freezes and seizures totaling more than $400,000 USD.

Binance reiterated Gambaryan’s non-involvement in company management, emphasizing his role as a staunch advocate for law enforcement and transparent financial practices. The platform urged for Gambaryan’s exoneration, stressing that he should not be held accountable during ongoing discussions between Binance and Nigerian government officials.

Despite the platform’s plea for Gambaryan’s release, the situation remains fraught with uncertainty as legal proceedings unfold, leaving Gambaryan’s fate hanging in the balance.