US and Nigeria form alliance to fight crypto crime

The United States and Nigeria have launched the Bilateral Liaison Group on Illicit Finance and Cryptocurrencies, a joint initiative aimed at combating cybercrime and illicit financial activities involving digital assets, including cryptocurrencies.

Led by the U.S. Department of Justice and Nigerian authorities, the group seeks to improve cross-border cybercrime investigation capabilities, especially as digital finance continues to expand globally. The formation of this group coincides with the release of Tigran Gambaryan, Binance’s head of financial crime compliance, who had been detained in Nigeria since February on allegations of money laundering and currency manipulation.

The initiative is part of the U.S. government’s ongoing efforts to ensure safe cyberspace operations while addressing the challenges arising from digital asset transactions. According to the U.S. State Department, the collaboration aims to strengthen the ability of both countries’ enforcement bodies to investigate and prosecute cybercrime and crypto-related financial crimes.

Tigran Gambaryan’s Release

The announcement of the Bilateral Liaison Group follows the release of Tigran Gambaryan after several months of detention in Kuje Correctional Center in Abuja. Gambaryan had been detained on charges related to financial misconduct, including money laundering and currency manipulation, which stemmed from his visit to Nigeria earlier this year. His release came after Nigerian authorities dismissed the charges against him, citing health concerns. Gambaryan had reportedly been suffering from various health issues, including a herniated disk, malaria, and pneumonia, which were deemed too severe for treatment within the prison system.

Gambaryan’s release may signal a thaw in the crypto relationship between the two countries, though it is unclear if the formation of the Bilateral Liaison Group was a factor in the decision. Binance had actively advocated for Gambaryan’s release, arguing that he was not acting as a decision-maker for the company during his visit to Nigeria. Binance also claimed that Nigerian officials had suggested a covert payment to resolve the situation, although Nigeria denied these allegations.

Earlier this year, Nadeem Anjarwalla, a colleague of Gambaryan, was also detained but managed to escape to Kenya in March. Both Anjarwalla and Gambaryan were detained after allegations of financial misconduct following their visit to Nigeria. The release of Gambaryan and the formation of the Bilateral Liaison Group may mark a new chapter in the efforts to combat illicit financial activities and cybercrime in the cryptocurrency sector.