Feed / Enforcement & compliance
A report links Shelbit to alleged gambling and sanctions transactions
By SectorWire desk ·
Summary
The report said that an investigation linked Dubai cryptocurrency exchange Shelbit to alleged processing for an illegal gambling network and Iranian sanctions evasion. The report said the unlicensed exchange processed at least $4bn in cryptocurrency from May 2024.
Why it matters
The reported transactions connect the exchange to allegations involving illegal gambling payments.