How Iran's military ran a $4bn gambling network as part of a sanctions-dodging op: Report

A $4 billion sanctions-evasion network used illegal online gambling, cryptocurrency transactions, and the Dubai-based exchange Shelbit to move money for Iran, according to Reuters.

Shelbit processed at least $4 billion in cryptocurrency since May 2024, with hundreds of millions routed to Binance.

The network involved a Farsi-language gambling network of over 2,000 websites, linked to Iran's central bank and suspected state-backed bitcoin mining.

The operation was fronted by Iranian influencers Sasha Sobhani and Pooyan Mokhtari, both convicted in an illegal gambling case in 2023 along with Shelbit founder Siavash Kayvanpour.