US targets Shelbit over Iran-linked crypto flows
The United States has imposed sanctions on cryptocurrency platform Shelbit, its founder Siavash Kayvanpour and affiliated companies after investigators linked the network to billions of dollars in digital-asset flows involving Iran’s Islamic Revolutionary Guard Corps and other sanctioned entities. The action by the Treasury Department’s Office of Foreign Assets Control places Shelbit and…
The United States government has sanctioned cryptocurrency exchange Shelbit, its founder Siavash Kayvanpour, and affiliated entities due to their alleged connections to billions of dollars in transactions involving Iran's Islamic Revolutionary Guard Corps and other sanctioned organizations. The Treasury Department's Office of Foreign Assets Control added Shelbit and its associated companies to its sanctions list, freezing assets under U.S. jurisdiction and exposing counterparties to potential sanctions risks.
Over $6.3 billion in transactions were traced through Shelbit-linked infrastructure between May 2024 and March 2026, with 88% of the volume, amounting to approximately $5.56 billion, passing through the Tron blockchain. Blockchain analysis revealed that IRGC-controlled digital currency addresses transferred over $1 million to Shelbit addresses, while more than $2 million flowed from Shelbit wallets to addresses controlled by the Guards.
Additionally, wallets belonging to or controlled by Kayvanpour sent over $2 million to Nobitex, Iran's largest cryptocurrency exchange, which was previously sanctioned by Washington in June.
Written by urgent.news from Arabian Post's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
