Audit log

Every state-changing event for Shelbit Exchange: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-08-07 23:04:31Z
   Score: ? → ? (no score change)
   anchorpending

   chain

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   ES1Vq2eXUyf2…6vgqxtFfcopysha256 → base58

   verifying row…

   canonical bytes (21930 B) ▸

   {"actor":"system:backfill","investigation_id":"4b1608f0-b1d0-41e6-893f-f4656b6af442","kind":"publish","page_slug":"shelbit-exchange","published_at":"2026-08-07T23:04:31.771Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Shelbit Exchange","sections":[{"content":"On August 7, 2026, the U.S. Treasury's Office of Foreign Assets Control (OFAC) sanctioned Shelbit Exchange, its operator Siavash Kayvanpour, and a network of affiliated corporate entities under Executive Order 13224 (as amended) and Executive Order 13902, which relate to Iran-linked financial activity and support for the Islamic Revolutionary Guard Corps (IRGC). The Treasury stated that IRGC-linked digital currency addresses sent the equivalent of over $1 million in digital assets to Shelbit Exchange addresses, while more than $2 million was transferred from Shelbit addresses to IRGC wallets. Wallets controlled by Kayvanpour himself allegedly sent over $2 million to Nobitex, Iran's largest cryptocurrency exchange, which was separately sanctioned by the U.S. in 2026. Treasury Secretary Scott Bessent stated: 'The Iranian regime's reliance on digital assets and shadow banking networks is further evidence that Economic Fury is working.' The U.S. State Department's Rewards for Justice program offered up to $15 million for information disrupting IRGC financial mechanisms, a program referenced in connection with the Shelbit action.","heading":"OFAC Sanctions Designation","severity":"critical","sources":[{"credibility":1,"name":"Treasury Sanctions Crypto Exchanges Funding Iran's IRGC and Enabling Illicit Finance","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0598"},{"credibility":2,"name":"U.S. sanctions Iran-linked crypto exchanges Shelbit and Aban Tether — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/08/07/u-s-widens-iran-crypto-crackdown-with-sanctions-on-two-exchanges"},{"credibility":1,"name":"US sanctions Dubai crypto exchange for aiding Iran's IRGC — U.S. News","type":"news_article","url":"https://www.usnews.com/news/top-news/articles/2026-08-07/us-sanctions-dubai-crypto-exchange-for-aiding-irans-irgc-following-a-reuters-report"}]},{"content":"Blockchain investigators, including researchers at TRM Labs, reviewed on-chain data and determined that Shelbit processed at least $4 billion in digital assets since becoming active in May 2024. The network connected more than 2,000 Farsi-language illegal gambling sites, wallets linked to Iran's central bank (itself sanctioned since 2019 under U.S. counterterrorism authorities), wallets tied by the Israeli government to the IRGC, sanctioned exchange Nobitex, and a suspected state-backed Iranian bitcoin mining operation. TRM Labs researcher John Wojcik described the gambling component as 'by far the biggest Iranian illegal gambling network ever discovered and one of the biggest in the world.' Independent blockchain researcher Rich Sanders stated: 'It's an IRGC operation, and that's plain as day.' At least $125 million in flows was traced by investigators to addresses connected to Iran's central bank. At least $20 million was linked to a suspected Iranian bitcoin mining operation. The exchange also processed tens of millions for the gambling network proper.","heading":"Scale of Alleged Sanctions Evasion","severity":"critical","sources":[{"credibility":1,"name":"Iran-linked crypto network moved $4B through Dubai exchange — CoinDesk / Reuters","type":"news_article","url":"https://www.coindesk.com/business/2026/07/31/dubai-based-crypto-exchange-tied-to-usd4-billion-iran-sanctioned-evasion-network-reuters"},{"credibility":2,"name":"Ghost Exchange Shelbit Moved $4B in Iran Sanctions Funds Through Dubai — TechTimes","type":"news_article","url":"https://www.techtimes.com/articles/322512/20260731/ghost-exchange-shelbit-moved-4b-iran-sanctions-funds-through-dubai.htm"},{"credibility":2,"name":"Shelbit linked to $4B illicit Iranian gambling network — CryptoBriefing","type":"news_article","url":"https://cryptobriefing.com/shelbit-4b-illicit-iranian-gambling-network/"}]},{"content":"Reuters and affiliated blockchain researchers traced at least $676 million from Shelbit-linked addresses to Binance wallets between May 2024 and the time of reporting. Approximately $540 million of that amount is alleged to have reached Binance wallets after Dubai's VARA first issued a cease-and-desist against Shelbit in January 2025, indicating that flows continued through major exchanges even after regulatory warnings. Some reports indicate that amounts reaching Binance after VARA's July 2026 enforcement action totaled at least $540 million when cumulative flows are considered. Binance stated that Shelbit had never held an account on its platform and that it was not a sanctioned entity at the time of the transactions. Binance also stated that once investigators surfaced the connections, it froze relevant accounts. The exchange denied that the transactions were flagged as high-risk at the time of processing. Binance's precise exposure to liability remains unresolved as of August 2026.","heading":"Binance Transaction Flows","severity":"high","sources":[{"credibility":2,"name":"Iran-linked exchange sent $676 million to Binance wallets — The Block","type":"news_article","url":"https://www.theblock.co/post/410355/iran-linked-exchange-sent-676-million-to-binance-in-alleged-sanctions-evasion-operation-reuters"},{"credibility":2,"name":"Reuters Traces $676M From Iran-Linked Exchange to Binance — CoinPaprika","type":"news_article","url":"https://coinpaprika.com/news/reuters-traces-676m-iran-linked-exchange/"},{"credibility":2,"name":"Binance Iran News: Exchange Received $540M After Iranian Shelbit Was Fined — Tokenist","type":"news_article","url":"https://tokenist.com/shelbit-binance-iran-sanctions-evasion/"},{"credibility":2,"name":"Dubai Exchange Shelbit Moved $4B for Iran's IRGC-Linked Sanctions Network — TFTC","type":"news_article","url":"https://www.tftc.io/shelbit-iran-sanctions-evasion-dubai-crypto-exchange-binance"}]},{"content":"Dubai's Virtual Assets Regulatory Authority (VARA) issued a formal cease-and-desist notice against Shelbit General Trading L.L.C. on January 2, 2025, citing unlicensed operation of virtual asset services in Dubai. Despite that order, Shelbit allegedly continued processing billions in cryptocurrency. On July 24, 2026, VARA published a Notice of Fines against Shelbit General Trading L.L.C., citing violations of Federal Decree-Law No. (10) of 2025 (Anti-Money Laundering and Combating Terrorism Financing), Cabinet Resolution No. (111) of 2022 (Virtual Assets Regulation), Dubai Law No. (4) of 2022 (Virtual Assets Regulation), and VARA Regulations and Rulebooks. The specific violations included: providing virtual asset services without a valid regulatory licence, onboarding users without mandatory KYC compliance checks, and marketing services in Dubai without authorization. VARA implemented enforcement actions, financial penalties (amounts not publicly disclosed), and an immediate cease-and-desist directive. This marked the second enforcement action against the same entity within eighteen months.","heading":"Dubai VARA Enforcement Actions","severity":"critical","sources":[{"credibility":2,"name":"Dubai's VARA publishes notice of fines regarding Shelbit General Trading — FX News Group","type":"regulatory","url":"https://fxnewsgroup.com/forex-news/cryptocurrency/dubais-vara-publishes-notice-of-fines-regarding-shelbit-general-trading/"},{"credibility":2,"name":"How a Dubai Crypto Exchange Allegedly Helped Iran Move $4 Billion — United24 Media","type":"news_article","url":"https://united24media.com/world/how-a-dubai-crypto-exchange-and-online-gambling-helped-move-4-billion-for-iran-21245"}]},{"content":"Siavash Kayvanpour, an Iranian-born individual who holds additional citizenship from Dominica and Afghanistan, and who resided in the United Arab Emirates, was personally designated by OFAC on August 7, 2026. According to the Treasury, Kayvanpour operates a multi-national network of companies supporting illicit digital currency activity. The Georgia-based entity SHPS Shelbit (Shelbit) serves as the primary operational vehicle for the Shelbit Exchange. The UAE-based Shelbit General Trading LLC operates commercially as 'Shelbit Exchange' and was the entity subject to VARA's enforcement actions. Additional designated entities include: Shelbit Technologies Ltd Spolka Z Ograniczona Odpowiedzialnoscia W Likwidacji (Poland-based), Crypto Home DMCC (UAE-based), and NFT Home DMCC (UAE-based), all with Kayvanpour as the controlling party. Kayvanpour, along with Iranian social media influencers Sasha Sobhani and Pooyan Mokhtari — public faces of the gambling network who promoted lavish lifestyles online — were each convicted in absentia in Iran in 2023 on illegal gambling charges. Sobhani denied involvement in money laundering, sanctions evasion, or terrorism financing. Mokhtari denied links to the IRGC and stated he was unfamiliar with Shelbit.","heading":"Operator and Corporate Structure","severity":"high","sources":[{"credibility":1,"name":"Treasury Sanctions Crypto Exchanges Funding Iran's IRGC and Enabling Illicit Finance","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0598"},{"credibility":2,"name":"US Sanctions Iranian Crypto: Shelbit Exchange Targeted — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/08/07/us-sanctions-iranian-crypto-shelbit/"},{"credibility":2,"name":"Iran gambling network helped channel $4 billion through crypto exchange — Iran International","type":"news_article","url":"https://www.iranintl.com/en/202607319067"}]},{"content":"Shelbit operated as the primary cryptocurrency settlement layer for a network of more than 2,000 Farsi-language online gambling platforms, described by TRM Labs as 'by far the biggest Iranian illegal gambling network ever discovered and one of the biggest in the world.' Gambling is illegal inside Iran, and the network served Iranian users via diaspora-facing platforms. Iranian social media influencers Sasha Sobhani and Pooyan Mokhtari served as public-facing promoters, showcasing lavish lifestyles including luxury vehicles, villas, private jets, and yacht parties, directing audiences toward the betting platforms. Reuters, in its July 31, 2026 investigation, documented that Shelbit processed at least $250 million attributable directly to the illegal gambling network, with the full $4 billion figure encompassing all flows through the exchange including Iranian state-linked and IRGC activity. The gambling network allegedly served as an obfuscation layer to launder funds and obscure the origins of cryptocurrency before it entered global markets.","heading":"Illegal Gambling Network","severity":"high","sources":[{"credibility":2,"name":"Illegal gambling network funnels $4B in crypto through unlicensed Dubai exchange — CryptoBriefing","type":"news_article","url":"https://cryptobriefing.com/shelbit-dubai-4b-crypto-gambling-network/"},{"credibility":2,"name":"Shelbit processed $250M for illegal Iranian gambling network — CryptoBriefing","type":"news_article","url":"https://cryptobriefing.com/shelbit-250-million-illegal-iranian-gambling-network/"},{"credibility":2,"name":"Reuters: Iranian Gambling Network Tied to Dubai Crypto Exchange — BestInSlot","type":"news_article","url":"https://www.bestinslot.co/news/reuters-iranian-gambling-network-tied-to-dubai-crypto-exchange-38072"},{"credibility":2,"name":"Illicit Iranian Gambling Network Helped Pull Off a $4 Billion Sanctions Dodge — Times of Israel","type":"news_article","url":"https://www.timesofisrael.com/illicit-iranian-gambling-network-helped-pull-off-a-4-billion-sanctions-dodge/"}]},{"content":"Following the Reuters investigation published on July 31, 2026, Shelbit reactivated its website and issued a statement on August 1, 2026. In the statement, the company 'categorically rejects any suggestion that the company knowingly participated in money laundering, terrorist financing, illegal gambling activity, sanctions evasion, or activity on behalf of any sanctioned, military, or governmental organisation.' Shelbit additionally stated that it had ceased operations in January 2026. No independent verification of a January 2026 cessation of operations has been confirmed; the Reuters investigation and OFAC designation both reference activity continuing through at least the time of VARA's July 24, 2026 enforcement action, and $540 million in traced Binance flows is alleged to have occurred after the January 2025 cease-and-desist order.","heading":"Shelbit's Public Response","severity":"medium","sources":[{"credibility":1,"name":"US sanctions Dubai crypto exchange for aiding Iran's IRGC — U.S. News","type":"news_article","url":"https://www.usnews.com/news/top-news/articles/2026-08-07/us-sanctions-dubai-crypto-exchange-for-aiding-irans-irgc-following-a-reuters-report"},{"credibility":2,"name":"US targets UAE-based crypto exchange over alleged Iran sanctions evasion — Jerusalem Post","type":"news_article","url":"http://www.jpost.com/international/article-904872"}]},{"content":"The Shelbit designation was part of a broader 2026 U.S. enforcement campaign targeting Iranian cryptocurrency infrastructure. In the same August 7, 2026 action, OFAC also sanctioned Iran-based Aban Tether, which had processed millions in transactions for sanctioned Iranian exchanges including Nobitex, Wallex, Bitpin, and Ramzinex. Nobitex, Iran's largest cryptocurrency exchange, had itself been sanctioned earlier in 2026. The Treasury simultaneously sanctioned a separate network of foreign exchange houses, shell companies, and individuals involved in Iran's shadow banking system, which moved hundreds of millions of dollars from overseas oil sales. The combined operation reflects increased U.S. focus on cryptocurrency as a vector for Iranian sanctions evasion and IRGC financing.","heading":"Broader Iran Crypto Crackdown Context","severity":"high","sources":[{"credibility":2,"name":"U.S. sanctions Iran-linked crypto exchanges Shelbit and Aban Tether — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/08/07/u-s-widens-iran-crypto-crackdown-with-sanctions-on-two-exchanges"},{"credibility":1,"name":"Treasury Sanctions Crypto Exchanges Funding Iran's IRGC and Enabling Illicit Finance","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0598"}]}],"sources_used":[{"credibility":1,"name":"Treasury Sanctions Crypto Exchanges Funding Iran's IRGC and Enabling Illicit Finance","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0598"},{"credibility":2,"name":"U.S. sanctions Iran-linked crypto exchanges Shelbit and Aban Tether — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/08/07/u-s-widens-iran-crypto-crackdown-with-sanctions-on-two-exchanges"},{"credibility":1,"name":"US sanctions Dubai crypto exchange for aiding Iran's IRGC — U.S. News / Reuters","type":"news_article","url":"https://www.usnews.com/news/top-news/articles/2026-08-07/us-sanctions-dubai-crypto-exchange-for-aiding-irans-irgc-following-a-reuters-report"},{"credibility":1,"name":"Iran-linked crypto network moved $4B through Dubai exchange — CoinDesk / Reuters","type":"news_article","url":"https://www.coindesk.com/business/2026/07/31/dubai-based-crypto-exchange-tied-to-usd4-billion-iran-sanctioned-evasion-network-reuters"},{"credibility":2,"name":"Iran-linked exchange sent $676 million to Binance wallets — The Block","type":"news_article","url":"https://www.theblock.co/post/410355/iran-linked-exchange-sent-676-million-to-binance-in-alleged-sanctions-evasion-operation-reuters"},{"credibility":2,"name":"Dubai's VARA publishes notice of fines regarding Shelbit General Trading — FX News Group","type":"regulatory","url":"https://fxnewsgroup.com/forex-news/cryptocurrency/dubais-vara-publishes-notice-of-fines-regarding-shelbit-general-trading/"},{"credibility":2,"name":"Dubai Exchange Shelbit Moved $4B for Iran's IRGC-Linked Sanctions Network — TFTC","type":"news_article","url":"https://www.tftc.io/shelbit-iran-sanctions-evasion-dubai-crypto-exchange-binance"},{"credibility":2,"name":"Shelbit linked to $4B illicit Iranian gambling network — CryptoBriefing","type":"news_article","url":"https://cryptobriefing.com/shelbit-4b-illicit-iranian-gambling-network/"},{"credibility":2,"name":"Illegal gambling network funnels $4B in crypto through unlicensed Dubai exchange — CryptoBriefing","type":"news_article","url":"https://cryptobriefing.com/shelbit-dubai-4b-crypto-gambling-network/"},{"credibility":2,"name":"Binance Iran News: Exchange Received $540M After Iranian Shelbit Was Fined — Tokenist","type":"news_article","url":"https://tokenist.com/shelbit-binance-iran-sanctions-evasion/"},{"credibility":2,"name":"Iran gambling network helped channel $4 billion through crypto exchange — Iran International","type":"news_article","url":"https://www.iranintl.com/en/202607319067"},{"credibility":2,"name":"Illicit Iranian Gambling Network Helped Pull Off a $4 Billion Sanctions Dodge — Times of Israel","type":"news_article","url":"https://www.timesofisrael.com/illicit-iranian-gambling-network-helped-pull-off-a-4-billion-sanctions-dodge/"},{"credibility":2,"name":"US targets UAE-based crypto exchange over alleged Iran sanctions evasion — Jerusalem Post","type":"news_article","url":"http://www.jpost.com/international/article-904872"},{"credibility":2,"name":"Reuters Traces $676M From Iran-Linked Exchange to Binance — CoinPaprika","type":"news_article","url":"https://coinpaprika.com/news/reuters-traces-676m-iran-linked-exchange/"},{"credibility":2,"name":"US Sanctions Shelbit for Processing Crypto Linked to Iran's IRGC — Mezha","type":"news_article","url":"https://mezha.net/eng/bukvy/27a29c72_us_sanctions_shelbit/"},{"credibility":2,"name":"Shelbit processed $250M for illegal Iranian gambling network — CryptoBriefing","type":"news_article","url":"https://cryptobriefing.com/shelbit-250-million-illegal-iranian-gambling-network/"}],"summary":"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.","timeline":[{"date":"2023-01-01","event":"Siavash Kayvanpour, Sasha Sobhani, and Pooyan Mokhtari convicted in absentia in Iran on illegal gambling charges.","source":"Reuters / Iran International","source_url":"https://www.iranintl.com/en/202607319067"},{"date":"2024-05-01","event":"Shelbit Exchange begins active operation, according to blockchain investigators who reviewed transaction data for Reuters.","source":"CoinDesk / Reuters","source_url":"https://www.coindesk.com/business/2026/07/31/dubai-based-crypto-exchange-tied-to-usd4-billion-iran-sanctioned-evasion-network-reuters"},{"date":"2025-01-02","event":"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.","source":"FX News Group / VARA","source_url":"https://fxnewsgroup.com/forex-news/cryptocurrency/dubais-vara-publishes-notice-of-fines-regarding-shelbit-general-trading/"},{"date":"2026-01-01","event":"Shelbit claims to have ceased operations, according to its own statement issued on August 1, 2026. Claim is unverified independently.","source":"U.S. News","source_url":"https://www.usnews.com/news/top-news/articles/2026-08-07/us-sanctions-dubai-crypto-exchange-for-aiding-irans-irgc-following-a-reuters-report"},{"date":"2026-07-24","event":"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.","source":"FX News Group","source_url":"https://fxnewsgroup.com/forex-news/cryptocurrency/dubais-vara-publishes-notice-of-fines-regarding-shelbit-general-trading/"},{"date":"2026-07-31","event":"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.","source":"CoinDesk / Reuters","source_url":"https://www.coindesk.com/business/2026/07/31/dubai-based-crypto-exchange-tied-to-usd4-billion-iran-sanctioned-evasion-network-reuters"},{"date":"2026-08-01","event":"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.","source":"U.S. News","source_url":"https://www.usnews.com/news/top-news/articles/2026-08-07/us-sanctions-dubai-crypto-exchange-for-aiding-irans-irgc-following-a-reuters-report"},{"date":"2026-08-07","event":"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.","source":"U.S. Treasury Department","source_url":"https://home.treasury.gov/news/press-releases/sb0598"}]},"v":1}

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   python -m src.verify_decision 142bddb5-8a88-41f4-a619-f30f4149ee6ccopy