A network of more than 2,000 illegal gambling websites and a Dubai-based cryptocurrency exchange called Shelbit helped move at least $4 billion through an Iranian sanctions-evasion operation, Reuters reported on July 31.
Shelbit, an unlicensed exchange operated by expatriate Iranian Siavash Kayvanpour, is registered at an office above a budget hotel in Dubai and sits at the center of the money-moving network, the outlet reported.
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Blockchain data analyzed by two crypto investigative firms and an independent researcher, Rich Sanders, showed that at least $4 billion had passed through Shelbit since May 2024, according to Reuters.
The exchange interacted…
