Shelbit Facilitates $4B Illicit Iranian Gambling Network Through Binance
A cryptocurrency exchange called Shelbit has been linked to an illicit Iranian gambling network that processed at least $4 billion in roughly a year, according to a Reuters investigation. The exchange operates out of Dubai and has no public website.
Shelbit is operated by Siavash Kayvanpour, an Iranian expatriate who was convicted in 2023 for his involvement in the country's illegal gambling industry. In that time, Shelbit has become a crucial node in Iran's sanctions evasion infrastructure.
The network behind Shelbit is tied to over 2,000 Farsi-language online gambling sites, which are all fronted by two convicted influencers: Sasha Sobhani and Pooyan Mokhtari. They were found guilty alongside Kayvanpour for their roles in the illegal gambling ecosystem.