Shelbit Exchange Allegedly Facilitated $4B Iranian Sanctions Evasion Network

Dubai-based unlicensed exchange Shelbit is accused of processing funds for a $4B sanctions evasion scheme linked to Iran, including illegal gambling operations.

Woofun AI reports that Dubai-based unlicensed crypto exchange Shelbit is allegedly central to a $4 billion Iranian sanctions evasion network. The platform is accused of processing millions in cryptocurrency for an illegal gambling operation. Operated by Siavash Kayvanpour, Shelbit is suspected of funneling hundreds of millions through major platforms to provide sanctioned entities, including the Central Bank of Iran, with global market access. U.S. and independent investigators note ties to Iran's Islamic Revolutionary Guard Corps, though direct control remains unconfirmed.