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Relatives of two top Binance executives detained in Nigeria have spoken out, shedding light on the ongoing legal turmoil surrounding the cryptocurrency exchange platform.

The detained officials, identified as 39-year-old Tigran Gambaryan and 37-year-old Nadeem Anjarwalla, were reportedly in Nigeria to negotiate with the government amid a crackdown on the crypto platform.

The Nigerian government accused them of operating a business worth billions without proper registration and documentation. Sources reveal that deadlock in negotiations and refusal to meet government demands led to their detention under a court warrant. Families claim the executives were escorted back to their hotel after a promising meeting with Nigerian authorities, only to be taken to a guarded house without explanation.

The families express uncertainty about the probe's nature, revealing that the executives are allowed phone use under supervision. As the Binance officials endure their ordeal, the cryptocurrency exchange platform faces increased scrutiny, compounded by its recent settlement of criminal money laundering charges in the United States.