How Crypto Became Part of an Alleged Iran Gambling Network
A cryptocurrency network allegedly helped Iran move billions of dollars through global financial markets despite years of international sanctions, according to an investigation.
The report said investigators traced at least $4 billion in cryptocurrency transactions through Dubai-based exchange Shelbit, which allegedly linked sanctioned Iranian entities, illegal gambling operations and international crypto markets.
The investigation findings were based on blockchain data, cryptocurrency transaction records, cybersecurity research and interviews with more than 30 people. It alleged that Shelbit processed transactions tied to Iran’s central bank, a large online gambling network and other sanctioned entities.
Dubai regulators took action against the exchange for operating without a license and are now investigating broader allegations of financial crime.
Investigators…
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