Dubai-Based Gambling Network Linked to Massive $4B Iranian Sanctions-Evasion Operation
TL;DR
- A Dubai-based gambling network operating more than 2,000 platforms allegedly routed millions in cryptocurrency through Shelbit, an unlicensed exchange tied to a $4 billion operation.
- Shelbit reportedly moved hundreds of millions toward crypto companies, while Binance said it froze relevant accounts and reported associated users to law enforcement.
- Investigators linked the network closely to Iran’s IRGC, central bank and sanctioned entities, although direct military control over Shelbit remains unconfirmed.
A vast Dubai-based illegal gambling network has been linked to a $4 billion Iranian sanctions-evasion operation centered on Shelbit, an unlicensed cryptocurrency exchange. The gambling network, described as operating more than 2,000 platforms, allegedly routed millions of dollars in digital assets through the exchange. The unsettling scale comes from the convergence of gambling revenue, sanctioned institutions and global crypto liquidity inside one financial channel. Shelbit, run by Iranian expatriate Siavash Kayvanpour, reportedly provided access to international markets for gambling operators, Iran’s central bank and other sanctioned Iranian entities seeking routes beyond conventional banking restrictions.
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