$676 Million Transferred to Binance; Iran-Linked Exchange Shelbit Suspected of Evading Sanctions

Odaily News: Dubai-based cryptocurrency exchange Shelbit has processed at least $4 billion in transactions since May 2024, serving as a hub connecting Iranian gambling websites, the Central Bank of Iran, and entities linked to Iran's Islamic Revolutionary Guard Corps. At least $676 million has been transferred from Shelbit-related addresses to Binance, including approximately $540 million moved after Dubai regulators fined the unlicensed exchange in January 2025. The report could not independently determine who within the Iranian government controls Shelbit, nor whether the Islamic Revolutionary Guard Corps directly operates the broader network.