Iran-linked exchange sent $676 million to Binance in alleged sanctions evasion

Dubai-based crypto exchange Shelbit has processed over $4 billion since May 2024 through a network tied to Iranian gambling sites, Iran's central bank and the IRGC, according to Reuters. Of that total, $676 million was sent to Binance in an alleged sanctions-evasion operation. The findings raise fresh concerns about compliance controls at major crypto platforms.