Cryptocurrency exchange Binance is facing a massive lawsuit from Nigeria’s tax authority. According to their blog, the Federal Inland Revenue Service (FIRS) is demanding a staggering $79.5 billion for alleged economic damages, in addition to $2 billion in back taxes plus interest.

This new demand is a significant jump from Nigeria’s initial claim of $10 billion. The Nigerian government had previously accused Binance of enabling $26 billion in untraceable funds to leave the country, worsening its foreign exchange crisis as the nation sought to control capital outflows last year.

In a recent blog post, Binance stated, “FIRS argues that Binance has a substantial economic presence in Nigeria but has not met its tax obligations.” The agency also emphasized that manipulation on the Binance platform has contributed to the rapid depreciation of the naira, Nigeria’s currency, which is already battling high inflation.

Nigeria’s legal pursuit of Binance began early last year. The situation intensified in February when the country detained two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla. While authorities charged both executives and the exchange with money laundering and tax evasion, Gambaryan was later released after Anjarwalla fled the country. Binance, however, still faces money laundering charges from Nigeria.

CoinDesk has reached out to both Binance and Nigeria’s Federal Inland Revenue Service for their perspectives on this developing story.