Dubai-based crypto exchange tied to $4 billion Iran sanctioned-evasion network

CryptoInfo Editorial Team · Published on July 31, 2026 at 12:28 · Updated on August 01, 2026 · 1 min read

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Key Takeaways

→A Dubai-based crypto exchange is linked to a $4 billion Iran sanctions evasion network
→Shelbit allegedly sent hundreds of millions of dollars to major crypto exchanges, including Binance

Disclaimer: This content is provided for informational purposes only and does not constitute financial or investment advice.

A Dubai-based crypto exchange, Shelbit, has been tied to a $4 billion Iran sanctions evasion network, according to reporting from CoinDesk.

Shelbit allegedly sent hundreds of millions of dollars to major crypto exchanges, including Binance, as it linked gambling sites and sanctioned Iranian entities to global crypto markets.

This is based on reporting from CoinDesk, which provides more details on the alleged evasion network.

Source: CoinDesk ↗