OFAC targeted Shelbit, Aban Tether and several related entities over alleged crypto transactions linked to Iran’s IRGC and previously sanctioned exchanges.
The US Treasury Department sanctioned two digital asset exchanges on Friday as part of a broader action targeting crypto networks allegedly used by Iran to evade sanctions and move funds linked to the Islamic Revolutionary Guard Corps.
The Office of Foreign Assets Control designated Shelbit Exchange and Iran based Aban Tether, alongside Siavash Kayvanpour and several companies connected to the Shelbit network.
According to Treasury, digital asset addresses belonging to the IRGC sent more than $1 million to Shelbit addresses, while more than $2 million moved from Shelbit addresses to IRGC controlled addresses.
Treasury also said addresses belonging to or controlled by Kayvanpour sent more than $2 million to previously sanctioned Iranian exchange Nobitex. The agency alleged that tens of millions of dollars linked to a Persian language online gambling network were also laundered through Shelbit.
Aban Tether was separately sanctioned for operating in Iran’s financial sector. Treasury said the exchange processed millions of dollars in transactions involving previously designated Iranian exchanges including Nobitex, Wallex, Bitpin and Ramzinex.
Under the sanctions, property belonging to the designated individuals and entities that falls under US jurisdiction is blocked, while US persons are generally prohibited from conducting transactions involving them.
