Shelbit allegedly sent hundreds of millions of dollars to major crypto exchanges, including Binance, as it linked gambling sites and sanctioned Iranian entities to global crypto markets.
- A vast Dubai-based illegal gambling network is allegedly channeling millions of dollars in cryptocurrency through Shelbit, an unlicensed exchange at the center of a $4 billion Iranian sanctions-evasion scheme, according to Reuters.
- Shelbit, run by Iranian expatriate Siavash Kayvanpour, has allegedly moved hundreds of millions of dollars through major crypto platforms and provided access to global markets for Iran’s central bank and other sanctioned entities.
- U.S. and independent investigators say the operation appears closely tied to Iran’s Islamic Revolutionary Guard Corps, even as Reuters reports it could not confirm direct IRGC control over Shelbit or the gambling network.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Payments firm OpenPayd targets year-end Nasdaq listing to fund U.S. expansion and acquisitions
Crypto job postings triple to over 1,200 in September, but applications fall
BlackRock offers a glimpse of how tokenization may change your investment portfolio
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