$4 Billion Iran 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 Iran sanctions evasion network and is accused of processing millions of dollars in cryptocurrency funds for a large illegal gambling network.
Shelbit, operated by Iranian expatriate Siavash Kayvanpour, is suspected of moving hundreds of millions of dollars through major crypto platforms and providing sanctioned entities, including the Central Bank of Iran, with access to global markets. U.S. and independent investigators stated that the operation appears to have close ties to Iran's Islamic Revolutionary Guard Corps, though direct control over Shelbit or the related gambling network has not yet been confirmed.
Shelbit, operated by Iranian expatriate Siavash Kayvanpour, is suspected of moving hundreds of millions of dollars through major crypto platforms and providing sanctioned entities, including the Central Bank of Iran, with access to global markets. U.S. and independent investigators stated that the operation appears to have close ties to Iran's Islamic Revolutionary Guard Corps, though direct control over Shelbit or the related gambling network has not yet been confirmed.
