US Sanctions Two Iran-Linked Crypto Exchanges Amid Ongoing Conflict

The US Treasury Department's Office of Foreign Assets Control (OFAC) has taken measures against two digital asset exchanges, Shelbit and Aban Tether, for facilitating illicit cryptocurrency activity and sanctions evasion.

The agency claims that the Iranian regime relies on these exchanges to launder billions of dollars amid military actions between the two countries.

According to OFAC, IRGC-controlled wallets sent more than $1 million in crypto to addresses tied to Shelbit, while wallets linked to Siavash Kayvanpour sent $2 million in digital assets to Nobitex, an Iranian exchange added to the US' list of sanctioned entities in June.