Shelbit linked to Iran sanctions evasion through gambling network, Reuters says

Dubai-based Shelbit, a cryptocurrency exchange run by an Iranian-born founder and tied to one of the world’s largest illegal gambling networks, has helped evade sanctions on Iran, according to CoinDesk, citing Reuters. Reuters said the gambling network, made up of more than 2,000 platforms, was identified as a core Shelbit client. On-chain analysis also showed Shelbit transferred hundreds of millions of dollars to major exchanges including Binance. Binance, however, said Shelbit does not hold a Binance account, and that related accounts were frozen and reported to law enforcement agencies.