Iran-linked exchange sent $676 million to Binance in alleged sanctions-evasion operation: Reuters
The Block·
60-second summary
Iran-linked exchange Shelbit allegedly sent $676 million to Binance as part of a sanctions-evasion operation, according to Reuters. Shelbit processed over $4 billion since May 2024 through a network tied to Iranian gambling sites, the central bank, and the IRGC. This raises concerns about the misuse of cryptocurrency for illicit activities and potential regulatory scrutiny for Binance.
Dubai-based Shelbit processed over $4 billion since May 2024 through a network tied to Iranian gambling sites, the central bank, and the IRGC, per Reuters.