Binance's Bribe Allegation: $150M Demand from Nigerian Lawmaker
1min read Binance Executive Reiterates Allegation of $150 Million Bribe Demand from Nigerian Lawmaker
Binance's Director of Financial Crime Compliance, Tigran Gambaryan, has recently reiterated that a rogue Nigerian legislator demanded a $150 million bribe to withdraw a lawsuit against the cryptocurrency exchange. This allegation was first made by Binance CEO Richard Teng in May last year, who claimed that a member of the Nigerian House of Representatives' Financial Crime Committee had made the demand.
Nigerian Information Minister Mohammed Idris has denied these accusations, stating that they are a "desperate attempt to conceal serious criminal charges" faced by Binance. Gambaryan insists that the Nigerian Department of State Services (DSS) was involved in the bribery demand. The Nigerian government has consistently claimed that $26 billion in mysterious funds flowed out of Nigeria through Binance, which Binance denies, stating that the figure is merely the cumulative trading data of Nigerian users on the platform.
The allegation has raised concerns about the potential for corruption and the need for greater transparency and accountability in the cryptocurrency industry. As the industry continues to grow, so too does the need for robust regulation and oversight to prevent abuses of power and protect users.
