Revolutionary Guards-linked crypto network moved billions through Dubai exchange, Reuters investigation finds

Here’s a sentence you probably didn’t expect to read today: Persian-speaking gambling influencers living luxury lifestyles in Dubai allegedly helped Iran’s Islamic Revolutionary Guard Corps move billions of dollars through the crypto system. A Reuters investigation published on July 31 laid out a sprawling sanctions-evasion network connecting Iran’s central bank, IRGC-affiliated wallets, illegal gambling websites, and a single unlicensed cryptocurrency exchange in Dubai called Shelbit. The scale is significant. Shelbit reportedly processed at least $4 billion in transactions since May 2024, with $125 million traced directly from Iran’s central bank. The Shelbit operation and its web of connections Shelbit was operated by Siavash Kayvanpour, an Iranian expatriate based in Dubai. According to the Reuters investigation, blockchain analysts identified strong connections between Shelbit and IRGC-associated wallet addresses. The exchange also maintained ties with Nobitex, Iran’s largest cryptocurrency exchange, which the US Treasury sanctioned on June 2, 2026, specifically for facilitating transactions linked to the IRGC and the Iranian central bank. The gambling component is where the s...