How Crypto Became Part of an Alleged Iran Gambling Network
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Investigators traced at least $4 billion in cryptocurrency transactions through Dubai-based exchange Shelbit, alleging it moved funds for sanctioned Iranian entities including ties to Iran’s central bank and a large online gambling network using blockchain and crypto markets. Dubai regulators have acted against Shelbit for operating without a license and opened probes into broader financial crime and AML failures, highlighting regulatory and security risks for exchanges, cross-border CEX/DeFi flows and crypto adoption.
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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…
Read The Full Article How Crypto Became Part of an Alleged Iran Gambling Network On Coin Edition.
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