Iran is allegedly using an illegal network of thousands of online casinos and a cryptocurrency exchange operating in Dubai to evade sanctions.
Modern.az reports that this was stated in a Reuters investigation.
According to the investigation, the main link in the scheme was the unlicensed Shelbit cryptocurrency exchange, located in Dubai and managed by Iranian Siavash Kayvanpour. It is reported that this platform carried out financial transactions for more than 2,000 Persian-language online casinos advertised by Iranian bloggers.
According to Reuters, Shelbit conducted direct financial transactions with the Central Bank of Iran, Iran's Nobitex crypto platform, as well as crypto wallets that Israeli intelligence linked to the Islamic Revolutionary Guard Corps (IRGC) of Iran.
The investigation notes that analysts discovered at least $125 million in transactions linked to the Central Bank of Iran, and approximately $20 million in transactions related to cryptocurrency mining activities.
According to the information, although direct control of the IRGC over Shelbit has not been proven, some experts say that a financial scheme of this scale does not seem credible without the involvement of Iran's security structures.
Currently, Dubai's Virtual Assets Regulatory Authority (VARA) is investigating the Shelbit platform on suspicion of money laundering. Reuters notes that the official position of the authorities regarding the claims in the investigation has not been fully disclosed.
