Shelbit Exchange Tied to Iranian Gambling Network and Sanctions-Evasion Scheme

LONDON, A network of more than 2,000 Persian-language gambling websites, led by two prominent Iranian influencers with ties to authorities, was found to be routing millions in cryptocurrency through an unregulated exchange called Shelbit.

Shelbit's founder and the influencers were convicted as accomplices in an illegal gambling case in Iran in 2023. The network has access to Iran's online payment system, which is controlled by its central bank.

Data on Shelbit's fund flows showed at least $4 billion processed since May 2024, with billions of dollars in cryptocurrency recorded in Shelbit accounts linked to the network.

The exchange transferred hundreds of millions of dollars to prominent players like Binance and interacted directly with Iran's central bank, global wallets linked to Israel and the IRGC, and Nobitex, an Iranian exchange previously sanctioned by the United States.