The Chamber of Digital Commerce has advocated for the release of Binance officials detained by the Nigerian government, the world’s largest trade association representing the blockchain industry has said.
The Chamber’s advocacy to United States President Biden is to explore diplomatic channels to ensure the freedom of the Binance executives from confinement via a statement on its website alleging that Nigeria’s actions as “state-sponsored kidnap.”
“In a distressing breach of international law,” the U.S. lobby group said, “U.S. citizen Tigran Gambaryan has been unjustly detained by the Nigerian government. Employed by Binance as the head of their criminal investigations team, Mr. Gambaryan appears to have been invited to Nigeria under false pretenses, only to be arrested on February 26, 2024, without any charges or clear explanation, except for his current employment for Binance.”
According to the lobby group, “It appears that Mr Gambarayan is being held coerce a $10 billion fine from Binance under the guise of a ransom. This egregious act appears to be a state-sponsored kidnapping. Both Gambaryan and a colleague from Binance were deprived of their passports and taken to an undisclosed location by armed personnel, where they have remained in custody. The absence of criminal charges and the refusal to allow unsupervised legal counsel highlight the arbitrary nature of this detention.”
According to the lobby group, “It appears that Mr Gambarayan is being held coerce a $10 billion fine from Binance under the guise of a ransom. This egregious act appears to be a state-sponsored kidnapping. Both Gambaryan and a colleague from Binance were deprived of their passports and taken to an undisclosed location by armed personnel, where they have remained in custody. The absence of criminal charges and the refusal to allow unsupervised legal counsel highlight the arbitrary nature of this detention.”
The Chamber’s painted a much grimmer picture when it said that, “the implications of this act are chilling. Tigran Gambaryan’s detainment under such dubious circumstances sets a dangerous precedent, signaling that any American businessman abroad, particularly those in the cryptocurrency sector, is vulnerable to similar unlawful actions by foreign governments.”
According to the Chamber, “This action is a flagrant violation of international law. And while Iran, Russia and China have similarly arrested American citizens in their countries as leverage or on dubious arguments, this is notably very different: Nigeria is a U.S. ally and recipient of substantial U.S. foreign aid, exceeding $1 billion annually. The Biden Administration must act to secure Mr. Gambaryan’s release and return him to his family.”
The lobby group said that, “this incident demands a robust response from the United States. We call upon President Biden and the U.S. government to employ every diplomatic measure to ensure Mr. Gambaryan’s immediate release. The unwarranted detention of Tigran Gambaryan is more than a legal issue; it is a matter of national dignity and the protection of American citizens worldwide. We stand in solidarity with Mr. Gambaryan and his family during this trying time and urge swift action to rectify this grave injustice.”
The Nigerian government through the Office of the National Security Adviser (NSA) has insisted that Binance after the cryptocurrency exchange was accused of profiting substantially from its “illegal transactions” locally while the nation suffered significant losses.
