A Reuters special investigation shows that one of the world’s largest illegal gambling networks has become part of the Iranian regime’s multi-billion-dollar sanctions evasion operation through an unlicensed cryptocurrency exchange in Dubai.
The exchange, called “Shelbit,” has processed at least $4 billion in cryptocurrency since May 2024. According to blockchain data analysis, it has been linked to the Central Bank of Iran, sanctioned entities, and cryptocurrency wallets attributed to the Islamic Revolutionary Guard Corps (IRGC).
Shelbit’s official address is an office on the upper floor of a budget hotel in Dubai’s Deira district. The exchange is run by Siavash Keyvanpour, an Iranian living abroad, but Shelbit has no active website or clear means of providing services to the public.
Employees whom the Reuters reporter found at the address claimed they had never heard of Shelbit or Keyvanpour. The office was registered under the name of a watch sales company, and inside there were only a few worn watches, a cash-counting machine, and a desk.
One of Shelbit’s main clients is a Persian-language network comprising more than 2,000 gambling websites. The network’s two main promotional figures are Iranian influencers Sasha Sobhani and Pouyan Mokhtari, who showcase their lavish lifestyles on social media, including multi-million-dollar cars, luxury villas, private jets, and yacht parties.
Reuters identified more than 60 Iranian influencers promoting these gambling websites, with about half of them having more than one million followers.
A technical analysis by cybersecurity company Infoblox found that websites registered under seemingly different names and brands use common software and technical features, indicating they are part of a single network. One of these websites alone has processed more than $130 million through Shelbit since May 2024.
Gambling is prohibited under the Iranian regime and is punishable by imprisonment and flogging. However, this network has access to Iran’s electronic payment system, which is subject to strict government oversight.
Former regime officials and individuals with ties to the IRGC told Reuters that the IRGC took control of the largest online gambling networks about a decade ago, as online gambling expanded.
Blockchain data show that Shelbit has processed at least $125 million for the Central Bank of Iran.
The exchange has also received at least $20 million from an operation that experts identify as a cryptocurrency mining network in Iran.
Cryptocurrency mining, which the Iranian regime legalized in 2019, has become an important tool for circumventing sanctions. Bitcoin and other cryptocurrencies mined in Iran can be sold on international markets without relying on the global banking system.
Since May 2024, at least $676 million has been transferred from addresses linked to Shelbit to Binance, the world’s largest cryptocurrency exchange.
Sobhani, Mokhtari, and Keyvanpour were prosecuted in Iran in connection with the abt90 and Hazarat gambling websites. In 2023, Sobhani and Mokhtari were each sentenced in absentia to two years in prison, while Keyvanpour received a three-month prison sentence. Iran’s regime issued Interpol Red Notices for Sobhani and Mokhtari, and both were arrested in Spain. However, the notices were later withdrawn, and the Spanish case was closed.
Sobhani denied any involvement in money laundering, sanctions evasion, terrorism financing, or transferring funds on behalf of the Iranian regime, the Central Bank of Iran, or the IRGC. He said he had only been paid to advertise certain gambling websites and was neither their owner nor manager.
Mokhtari also said he is not a member of the IRGC or any military group affiliated with the Iranian regime and rejected the allegations made by Dubai authorities. Both men said they do not know Shelbit or Keyvanpour and have no knowledge of any possible connection between their activities and the Iranian regime.
Mokhtari was arrested in Dubai in late March on suspicion of financing Iranian regime groups accused of carrying out attacks against the United Arab Emirates.
This case illustrates how the combination of illegal gambling, social media influencers, Iran’s domestic banking infrastructure, cryptocurrency mining, and international cryptocurrency exchanges has helped the Iranian regime circumvent Western financial and banking restrictions.
