Dubai Crypto Exchange Shelbit Linked to $4B Iran Sanctions-Evasion Network

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A Dubai-based cryptocurrency exchange called Shelbit has been allegedly tied to a $4 billion network used to evade Iran-related sanctions. The exchange is accused of acting as a financial bridge between illegal gambling sites and sanctioned Iranian entities, connecting them to global crypto markets. Shelbit reportedly funneled hundreds of millions of dollars to major cryptocurrency exchanges, including Binance. The allegations highlight ongoing concerns about the use of digital assets to circumvent international financial restrictions imposed on Iran.

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