Iran's Revolutionary Guards Use Illegal Gambling Network to Launder Billions via Dubai Crypto Exchange

A Reuters investigation published recently reveals that Iran's Islamic Revolutionary Guard Corps (IRGC) operates a massive illegal gambling network as a covert financial arm. Since May 2024, the network has laundered at least $4 billion through an unlicensed cryptocurrency exchange based in Dubai called Shalbit, managed by Iranian expatriate Siabash Keyvanpour.

This operation serves as a major scheme to circumvent international sanctions imposed on Tehran's regime. The gambling network comprises over 2,000 Persian-language sites led by two prominent Iranian influencers, Sasha Sobani and Pouyan Mokhtari, both previously convicted in Iran but continuing to run the lucrative enterprise while flaunting extravagant lifestyles on social media. Independent blockchain analysts confirm the IRGC's control over the gambling sector to funnel capital abroad.

Financial data uncovered shows Shalbit's direct interactions with Iran's Central Bank and digital wallets linked by the Israeli government to the Revolutionary Guards. Significant funds also flowed through leading global crypto exchanges, including Binance, which processed hundreds of millions of dollars for the network. The U.S. Treasury Department acknowledged awareness of these serious allegations and emphasized its intensified crackdown on digital assets tied to the Iranian regime since President Donald Trump's return to office.