Tigran Gambaryan, a former IRS Special Agent known as the “Crypto Wizard” for his expertise in tracing cryptocurrency transactions, embarked on a short trip to Nigeria in February 2024 as an envoy for Binance, the world’s largest crypto exchange. His mission was to assure Nigerian officials of Binance’s legitimacy and the safety of cryptocurrency.
His meeting at the Office of the National Security Advisor took an unexpected turn. After hours of waiting, officials accused Binance of various crimes and economic sabotage, detaining Gambaryan indefinitely. What was meant to be a few days turned into an eight-month ordeal.
This Planet Money episode, in collaboration with Click Here from Recorded Future News, features Gambaryan’s first recorded interview since his release. He recounts his harrowing experience inside one of Nigeria’s most notorious prisons, detailing his survival tactics and eventual release. The “Crypto Wizard” shares his insights into the challenges and complexities of navigating the world of cryptocurrency in a rapidly changing global landscape. This Planet Money investigation provides a rare glimpse into the intersection of cryptocurrency, international relations, and the human cost of navigating complex legal and political landscapes.
This episode delves into the accusations leveled against Binance, examining the specific allegations of criminal activity and the purported impact on the Nigerian economy. Gambaryan discusses the conditions of his confinement, shedding light on the realities of life within the Nigerian prison system. He outlines the strategies he employed to endure his captivity and the events that ultimately led to his freedom.
Gambaryan’s story, as told on Planet Money, raises crucial questions about the regulatory landscape surrounding cryptocurrency, the role of major exchanges in emerging markets, and the potential risks faced by individuals operating in this evolving space. The collaboration with Click Here offers additional context and analysis, enriching the narrative with expert perspectives on the broader implications of this case. Tune into Planet Money to hear the full story of Tigran Gambaryan’s Nigerian nightmare.
