US Targets Crypto Exchanges in 'Economic Fury' Campaign Against Iran
The US Treasury Department has sanctioned two digital-asset exchanges and a multinational company network accused of laundering billions of dollars, evading sanctions, and moving cryptocurrency for Iran's Islamic Revolutionary Guard Corps (IRGC).
Shelbit Exchange and Aban Tether were among those targeted by the Treasury Department. Shelbit is accused of servicing a large Persian-language online gambling network, with tens of millions of dollars in digital assets allegedly laundered through the exchange.
The Treasury claimed IRGC-linked digital addresses sent more than $1 million in cryptocurrency to Shelbit, while more than $2 million flowed from Shelbit addresses to IRGC-linked wallets. Aban Tether was separately sanctioned for operating in Iran's financial sector after processing millions of dollars in transactions involving previously designated Iranian exchanges.
Treasury Secretary Scott Bessent stated that Friday's action formed part of the Trump administration's 'Economic Fury' and maximum-pressure campaign, pledging to pursue Iranian financial networks operating through dollars, rials, or cryptocurrency. The State Department's Rewards for Justice program is offering up to $15 million for information that helps disrupt the IRGC's financial mechanisms.