Reuters: Illegal Gambling Empire Helped Move Billions for Iran

A Dubai-based cryptocurrency exchange allegedly helped process billions of dollars for one of the world's largest illegal online gambling networks while serving as a hub for Iranian sanctions evasion, according to a Reuters investigation. Shelbit, an unlicensed crypto exchange which is based in Dubai, processed at least $4 billion in cryptocurrency since May 2024, according to the investigation. The exchange has been linked to a network of shell companies and other illicit financial transactions. The Reuters investigation found that Shelbit's activities have helped facilitate the movement of billions of dollars for the illegal online gambling network, which has been operating since at least 2020. The network has been accused of money laundering and other financial crimes. The investigation also found that Shelbit's activities have helped evade US and EU sanctions imposed on Iran. The Reuters investigation is ongoing and more information is expected to be released in the coming days. The post Reuters: Illegal Gambling Empire Helped Move Billions for Iran appeared first on Casino.org.