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[SITUATION] · [ACTIVE]

2 clusters · 33 sources · 8 days · First seen 8 days ago · Last updated about 7 hours ago

Categories: INTERNATIONAL · CRIME

Dubai crypto exchange Shelbit sanctions case

Entities: Siavash Kayvanpour · Shelbit · Islamic Revolutionary Guard Corps (IRGC) · U.S. Treasury · Shelbit Exchange

Overview

In late July 2026 investigators uncovered that the unlicensed Dubai‑based exchange Shelbit had processed at least $4 billion in cryptocurrency for an extensive Iranian online‑gambling network and for entities tied to Iran’s central bank and the Islamic Revolutionary Guard Corps (IRGC). The platform’s activity prompted the UAE’s Virtual Assets Regulatory Authority to fine Shelbit and order its shutdown, while Binance froze accounts linked to the flow and reported the matter to law‑enforcement. The U.S. Office of Foreign Assets Control (OFAC) began reviewing the case.

A week later OFAC formally sanctioned Shelbit and its founder Siavash Kayvanpour, accusing them of moving millions of dollars for the IRGC and other state‑linked groups. The designation followed a Reuters investigation that highlighted Shelbit’s role in the $4 billion sanctions‑evasion scheme and came after earlier U.S. sanctions on Iran’s largest crypto exchange, Nobitex. Shelbit’s website briefly resurfaced after the sanctions but the company denied any wrongdoing.

On August 7, 2026 OFAC expanded the sanctions to include another digital‑asset exchange, Aban Tether, and added Kayvanpour’s companies in Georgia, Poland and the United Arab Emirates. Treasury officials noted that IRGC‑linked wallets sent more than $1 million to Shelbit addresses, Shelbit‑linked wallets transferred over $2 million to IRGC‑controlled wallets, and wallets tied to Kayvanpour moved about $2 million to Nobitex. The Treasury emphasized that the network laundered billions through online gambling operations and shell‑company structures, and pledged to “hunt down and dismantle the illicit financial networks that keep the regime afloat.”

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 8 SOURCES] Iranian national Siavash Kayvanpour and companies tied to him in Georgia, Poland and the UAE were sanctioned. (US Treasury sanctions)
[● 7 SOURCES] OFAC sanctioned crypto exchanges Shelbit and Aban Tether on Aug 7, 2026. (US Treasury sanctions)
[● 7 SOURCES] The sanctions allege Shelbit and Aban Tether helped Iran evade restrictions and move funds linked to the IRGC. (US Treasury sanctions)
[● 7 SOURCES] Treasury Secretary Scott Bessent said the Treasury will hunt down and dismantle the illicit financial networks that keep the regime afloat. (US Treasury statement)
[● 5 SOURCES] The United States previously sanctioned Iranian exchange Nobitex on June 2, 2026 for facilitating sanctions evasion. (US Treasury sanctions)
[● 4 SOURCES] Shelbit is a Dubai‑based unlicensed exchange that processed millions of dollars for the IRGC and an illegal online gambling network. (US Treasury sanctions)
[● 3 SOURCES] IRGC‑linked wallets sent more than $1 million in cryptocurrency to Shelbit addresses. (US Treasury sanctions)
[● 3 SOURCES] Shelbit‑linked wallets transferred over $2 million to IRGC‑controlled wallets. (US Treasury sanctions)

Timeline

about 7 hours ago

[INTERNATIONAL] 19 sources
US Treasury sanctions Shelbit and Aban Tether for aiding Iran’s IRGC
US Treasury sanctions crypto exchanges Shelbit and Aban Tether, Iranian national Siavash Kayvanpour and related firms for moving funds to Iran’s IRGC, citing over $1 M from IRGC wallets to Shelbit and $2 M from
8 days ago

[CRIME] 16 sources
Dubai's Shelbit crypto exchange linked to $4 billion Iran sanctions‑evasion gambling network
Dubai’s unlicensed Shelbit exchange moved $4 billion for an Iranian gambling network, linking to Iran’s central bank, IRGC wallets and Binance; VARA shut it down and OFAC is reviewing the case.

Sources

abmedia.io · borsagundem.com · catania7.com · cointelegraph.com · criptotendencias.com · crypto.news · cryptobriefing.com · cryptopolitan.com · dailytimes.com.pk · doviz.com · en.coin-turk.com · ettelaat.net · finans.mynet.com · haber7.com · independent.co.uk · ir.voanews.com · iranfocus.com · isca.org.sg · kfgo.com · lapatilla.com · lifo.gr · list25.com · mycryptoparadise.com · news.az · paparazzi.com.ar · spacemoney.com.br · themarketperiodical.com · thepressroom.gr · tribunademexico.com · welt-format.ch · wixx.com · yenisafak.com · zene.net

This summary has been updated 2 times: see revision history