Dubai Crypto Exchange Shelbit Funnels Billions in Iranian Sanctions Evasion

An investigation by Reuters has uncovered an illicit $4 billion Iranian sanctions evasion network centered around the Dubai-based cryptocurrency exchange Shelbit.

The network allegedly linked Shelbit to a Farsi-language online gambling operation of over 2,000 websites offering slots, blackjack, and roulette, fronted by two prominent Iranian social media influencers: Sasha Sobhani and Pooyan Mokhtari.

The IRGC systematically co-opted online gambling over a decade ago, leveraging the Central Bank of Iran's payment processing system to bypass international banking restrictions, according to former Iranian security insiders and government officials.