US Sanctions Iranian Crypto Exchanges After $3 Million in Alleged IRGC-Linked Transfers

TL;DR:

• The Office of Foreign Assets Control (OFAC) added crypto platforms Shelbit and Aban Tether to its sanctions list for facilitating sanctions evasion.
• Cryptocurrency addresses belonging to the Islamic Revolutionary Guard Corps transferred over $1 million to Shelbit and received more than $2 million from the entity.
• Official records and news investigations indicate that Shelbit processed nearly $4 billion over the past two years through gambling networks and financial intermediaries.

The United States Department of the Treasury announced this Friday the inclusion of two digital asset exchanges on its list of blocked entities. The imposition of sanctions on Iranian crypto exchanges aims to dismantle the financial networks used by the Tehran regime to move capital outside the traditional banking system.

The affected platforms are Shelbit and Aban Tether, which allegedly processed millions in volume for state actors and previously designated entities. According to the U.S. Treasury statement, these measures fall under the current administration’s coordinated strategy of maximum economic pressure.

The Office of Foreign Assets Control (OFAC) detailed the flow of funds between crypto infrastructure and the Iranian military establishment. Digital wallets controlled by the Islamic Revolutionary Guard Corps (IRGC) sent the equivalent of more than $1 million to Shelbit addresses. In parallel, the platform transferred an amount exceeding $2 million back to addresses associated with the military group.