Dubai-Based Crypto Platform Shelbit Accused of Routing Assets to Binance Amid Sanctions Concerns

A Dubai-based cryptocurrency platform called Shelbit has been linked to Iran and reportedly transferred hundreds of millions in digital assets to Binance, raising concerns about potential sanctions evasion.

According to a detailed investigation, Shelbit, operated by an Iranian expatriate, was found to have circumvented international financial restrictions. The unlicensed exchange allegedly routed significant amounts of cryptocurrency to Binance, one of the largest and most prominent exchanges in the industry.

The exact figures and timing are not specified in the report, but the investigation suggests a substantial transfer of assets occurred amidst concerns over sanctions against Iran.