Nobitex

The U.S. Treasury has sanctioned Shelbit Exchange and Iran-based Aban Tether, alleging the platforms helped Iran move funds outside traditional banking channels. The action expands Washington’s campaign against crypto networks and shadow banking channels tied to sanctioned Iranian entities.

A Dubai-based crypto exchange has become the focus of allegations involving a $4 billion Iranian sanctions-evasion network tied to illegal gambling platforms and sanctioned entities. Investigators say funds connected to Shelbit moved through major global crypto venues, while Binance says Shelbit never held an account on its platform and that it froze relevant accounts after review.

CoinEx has pushed back against allegations that it served as a major conduit for sanctioned Iranian crypto activity. TRM Labs says the exchange handled billions in blockchain-traced transfers, while CoinEx denies any commercial relationship with Iranian entities.

Hacker group Gonjeshke Darande leaked Nobitex’s full source code following a $100M attack. Remaining user assets may be vulnerable as back-end security is now fully exposed.