POPA ReconDubai Exchange Shelbit Moved at Least $4B Through Iran-Linked Network
Dubai Exchange Shelbit Moved at Least $4B Through Iran-Linked Network A Reuters investigation found that unlicensed Dubai-based crypto exchange Shelbit processed at least $4 billion since May 2024 through a network linked to Iranian online gambling, the country’s central bank and sanctioned entities, including wallets associated by Israel with the IRGC. Dubai regulator VARA fined Shelbit on July 24 for continuing unlicensed activities after a January 2025 cease-and-desist order and said the case involved potential AML and terrorism-financing violations. — link
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