Iran's IRGC Uses $4 Billion Online Gambling Network to Evade Sanctions

The Iranian Revolutionary Guard Corps (IRGC) has allegedly used a $4 billion online gambling network to evade Western sanctions, according to a Reuters investigation.

The operation centered on Shelbit, a Dubai-based cryptocurrency exchange that processed at least $4 billion in cryptocurrency since May 2024, including hundreds of millions of dollars routed to Binance, the world's largest crypto exchange.

The gambling network, which is fronted by two Iranian influencers with high-level government connections, has access to Iran's online payments system and interacts directly with the country's central bank.