Shelbit Exchange
Provisional: this score is the AI investigator's judgment, not yet calculated by our published formula. Treat it as indicative. How scoring works →
anchored·2RvxDZ…9M3jSummary
Shelbit Exchange is an unlicensed Dubai-based cryptocurrency exchange operated by Iranian expatriate Siavash Kayvanpour that processed at least $4 billion in digital assets since May 2024 for a network including Iran's central bank, IRGC-linked wallets, and more than 2,000 Farsi-language gambling sites. On August 7, 2026, the U.S. Treasury's Office of Foreign Assets Control (OFAC) designated Shelbit Exchange, its operator Kayvanpour, and multiple affiliated corporate entities under Iran-related sanctions authorities. Dubai's Virtual Assets Regulatory Authority (VARA) separately issued a cease-and-desist and monetary fines on July 24, 2026, citing unlicensed operation, KYC failures, and anti-money laundering violations.
Connected Entities
6 entities · 60 linked investigations- Aban Tether→mentioned with→Nobitex(70%)
- Nobitex / Wallex / Bitpin / Ramzinex→mentioned with→Nobitex(80%)
- Siavash Kayvanpour→mentioned with→Nobitex(80%)
- Siavash Kayvanpour→mentioned with→Binance(70%)
- Nobitex→mentioned with→Binance(70%)
- Aban Tether→mentioned with→Shelbit Exchange(80%)
- Shelbit Exchange→mentioned with→Aban Tether(80%)
- Shelbit Exchange→mentioned with→Siavash Kayvanpour(80%)
- Siavash Kayvanpour→mentioned with→Aban Tether(80%)
- Shelbit Exchange→mentioned with→Nobitex / Wallex / Bitpin / Ramzinex(60%)
- + 5 more
Connected Through
6 shared actors · 514 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Binanceorganization
- □Nobitexorganizationalso inSiavash Kayvanpour·0OFAC Iran Central Bank Crypto Wallet Freeze (July 2026)·0Operation Economic Outcast — Iran Digital Assets Sectoral Sanctions (August 2026)·0Babak Zanjani Network — Expanded OFAC Designations (July 2026)·0OFAC Operation Economic Outcast — Iran Digital Assets Sectoral Sanctions August 2026·0
- □Nobitex / Wallex / Bitpin / Ramzinexorganizationalso inOperation Economic Outcast — Iran Digital Assets Sectoral Sanctions (August 2026)·0Iranian Crypto Exchanges OFAC Designation — Nobitex, Wallex, Bitpin, Ramzinex (June 2026)·0Aban Tether·0Babak Zanjani Network — Expanded OFAC Designations (July 2026)·0OFAC Iran Central Bank Crypto Wallet Freeze (July 2026)·0
- □Aban Tetherorganizationalso inAban Tether·0Babak Zanjani Network — Expanded OFAC Designations (July 2026)·0Operation Economic Outcast — Iran Digital Asset Sanctions·0Operation Economic Outcast — Iran Digital Assets Sectoral Sanctions (August 2026)·0OFAC Operation Economic Outcast — Iran Digital Assets Sectoral Sanctions August 2026·0
7 submissions awaiting moderator review.
Timeline(8 events)
2023
Siavash Kayvanpour, Sasha Sobhani, and Pooyan Mokhtari convicted in absentia in Iran on illegal gambling charges.
Reuters / Iran InternationalMay 2024
Shelbit Exchange begins active operation, according to blockchain investigators who reviewed transaction data for Reuters.
CoinDesk / Reuters2 January 2025
Dubai VARA issues a formal cease-and-desist notice against Shelbit General Trading L.L.C. for operating virtual asset services without a valid regulatory license.
FX News Group / VARA2026
Shelbit claims to have ceased operations, according to its own statement issued on August 1, 2026. Claim is unverified independently.
U.S. News24 July 2026
Dubai VARA publishes Notice of Fines against Shelbit General Trading L.L.C., citing AML/CTF violations, unlicensed operation, and KYC failures. Second enforcement action within 18 months.
FX News Group31 July 2026
Reuters publishes investigation linking Shelbit to a $4 billion Iranian sanctions-evasion network involving 2,000+ gambling sites, Iran's central bank, IRGC-linked wallets, and $676 million in flows traced to Binance.
CoinDesk / ReutersAugust 2026
Shelbit reactivates its website and issues a public statement categorically denying knowing participation in money laundering, terrorist financing, gambling, sanctions evasion, or activity on behalf of any sanctioned, military, or governmental organization.
U.S. News7 August 2026
U.S. Treasury OFAC designates Shelbit Exchange, Siavash Kayvanpour, and affiliated entities (SHPS Shelbit/Georgia, Shelbit General Trading LLC/UAE, Shelbit Technologies Ltd/Poland, Crypto Home DMCC/UAE, NFT Home DMCC/UAE) under Executive Orders 13224 and 13902. Aban Tether also designated in the same action.
U.S. Treasury DepartmentDecision Log
- slot 443518121 · hash Cf1vwUreWVbnDkqtMvK42t7JF22DDZ5UT6zGFN8swgHL
- slot 443518103 · hash E2HJY6R5XDGf5PMtYUTJZnKraTvHSZhWpfHa2yPabkS1
- slot 443504717 · hash ES1Vq2eXUyf21gm1Coj3Nzww1t53ZG3V5xgD6vgqxtFf
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 15 of 16 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/7/2026, 11:04:17 PM
last updated: 8/25/2026, 10:49:34 PM
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