$4 Billion Iranian Sanctions Evasion Network Allegedly Used Dubai Crypto Exchange Shelbit to Move Funds
2026-07-31 12:29
Odaily News: Dubai-based unlicensed crypto exchange Shelbit is allegedly at the center of a $4 billion Iranian sanctions evasion network and has been accused of processing millions of dollars in cryptocurrency funds for a major illegal gambling network.
Shelbit, operated by Iranian expatriate Siavash Kayvanpour, is suspected of funneling hundreds of millions of dollars through major crypto platforms and providing sanctioned entities, including the Central Bank of Iran, with access to global markets. According to U.S. and independent investigators, the operation appears to have close ties to Iran's Islamic Revolutionary Guard Corps, though direct control over Shelbit or the associated gambling network has not yet been confirmed.
Shelbit, operated by Iranian expatriate Siavash Kayvanpour, is suspected of funneling hundreds of millions of dollars through major crypto platforms and providing sanctioned entities, including the Central Bank of Iran, with access to global markets. According to U.S. and independent investigators, the operation appears to have close ties to Iran's Islamic Revolutionary Guard Corps, though direct control over Shelbit or the associated gambling network has not yet been confirmed.
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