--- title: "Binance Executive Reportedly Breaks Out of House Arrest" description: "A detained Binance executive, British-Kenyan citizen Nadeem Anjarwalla, has reportedly broken out of custody in Nigeria." date: "2024-03-26" modified: "2024-03-26" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/binance-executive-house-arrest" categories: - "Blockchain" - "Future Society" tags: - "binance" - "crypto" - "crypto exchange" - "the digest" --- # Binance Executive Reportedly Breaks Out of House Arrest ![A detained Binance executive, British-Kenyan citizen Nadeem Anjarwalla, has reportedly broken out of custody in Nigeria.]() *\Image: Justin Sullivan via Getty / Futurism\* ## Bye! A detained Binance executive has reportedly broken out of custody in Nigeria. Per [*Forbes*](), the escaped executive, British-Kenyan citizen Nadeem Anjarwalla, was arrested by Nigerian authorities alongside US citizen and fellow Binancer Tigran Gambaryan in February. According [to *CNBC*](), reports that Anjarwalla had escaped custody — the pair were sequestered at a guest house in the Nigerian capital Abuja — started swirling on Friday, and the rumor was confirmed on Monday when the Nigerian government officially filed tax evasion charges against the [embattled]() cryptocurrency exchange. "We were made aware that Nadeem is no longer in Nigerian custody," a Binance spokesperson told *CNBC**.*** "Our primary focus remains on the safety of our employees and we are working collaboratively with Nigerian authorities to quickly resolve this issue." The country's national security advisor [told *Reuters*]() that Nigeria is working with Interpol to put out an international arrest warrant for the executive, who's [only the latest]() crypto executive to [go on the lam](). ## Bad Hand Anjarwalla and Gambaryan's detainment in Nigeria has been fraught from the beginning. According to *CNBC*, the duo's February arrest was made upon their arrival to Nigeria; their passports were immediately taken, and until Monday, no charges had been brought. Their detainment period was originally set to end on March 12, but Nigerian officials — still with no declared charges — extended their release deadline. Binance has a massive footprint in Nigeria, a reality that's closely tied to the plummeting value of the naira, Nigeria's national currency. As *CNBC* explains, many Nigerians have put money into cryptocurrencies as a way to shield their savings from skyrocketing inflation and value decreases, which the Nigerian government argues has further contributed to the naira's dwindling value. (Though it could be argued that Binance preyed on Nigeria's currency crisis, the country's naira issues [run much deeper than crypto]().) The country's government has [also alleged]() that Binance and other cryptocurrency platforms have allowed for easy money laundering through the region. In "the last one year alone," Nigerian central bank governor Olayemi Cardoso said in a February press conference following the executives' detainment, [according to ]()*[The Financial Times](),* "$26 billion has passed through Binance Nigeria from sources and users who we cannot adequately identify." Considering that former Binance CEO Changpeng "CZ" Zhao stepped down from the exchange and [pleaded guilty to money laundering]() in US court back in November, the claim doesn't seem that far-fetched. Per [the *BBC*](), Anjarwalla and Gambaryan were supposed to finally appear in court together in early April. Now, if Anjarwalla isn't tracked down, it seems that Gambaryan might have to face the courts alone. **More on Binance:** [*Binance CEO Steps down, Pleading Guilty to Money Laundering*]() ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()