Treasury targets exchanges Shelbit and Aban Tether for facilitating illicit transactions supporting Iran’s IRGC and sanctions evasion.
The US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned two Iran-linked crypto exchanges, Shelbit and Aban Tether, for laundering $5 million in digital assets. The exchanges allegedly supported Iran’s Islamic Revolutionary Guard Corps (IRGC) by facilitating illicit transactions and sanctions evasion amid heightened tensions between the two nations.
OFAC stated that IRGC-controlled wallets transferred over $1 million in crypto to Shelbit, while wallets linked to Iranian national Siavash Kayvanpour sent $2 million to Nobitex, another sanctioned Iranian exchange. Shelbit also facilitated $2 million in transfers to IRGC-controlled wallets, according to the agency.
Treasury Secretary Scott Bessent emphasized the US commitment to dismantling illicit financial networks, regardless of currency. The sanctions follow prior actions against Nobitex in June, underscoring ongoing efforts to curb Iran’s financial support for military activities.