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Home›Crypto›Market Structure›Iran-linked exchange allegedly moved $676 million to B…

Iran-linked exchange allegedly moved $676 million to Binance via Shelbit

The Block, citing Reuters, said Dubai-based Shelbit processed more than $4 billion since May 2024 through a network linked to Iranian gambling sites, the central bank, and the IRGC.

Reported · Written up by our desk · Market Structure

The Block reports, citing Reuters, that an alleged sanctions-evasion operation routed $676 million to Binance through a Dubai-based exchange called Shelbit.

According to the report, Shelbit processed more than $4 billion since May 2024 by moving funds through a network tied to Iranian gambling sites, the Iranian central bank, and the Islamic Revolutionary Guard Corps.

The allegations center on how the exchange network was used to reach Binance while circumventing sanctions, according to the reporting.

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Sources

The BlockIran-linked exchange sent $676 million to Binance in alleged sanctions-evasion operation: Reuters

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