Washington sanctioned Shelbit and Aban Tether on August 7, 2026, accusing the two crypto platforms of supporting financial circuits linked to Iran. Behind these little-known names lies a network of companies, online betting sites and wallets associated with the Revolutionary Guards.
In brief
- OFAC placed Shelbit, Aban Tether and several related individuals and companies on its sanctions lists on August 7, 2026.
- The US Treasury describes three categories of crypto transfers over $1 million, $2 million and $2 million around Shelbit, IRGC and Nobitex.
- The relevant assets under American jurisdiction are blocked, while actors who pursue certain transactions face sanctions.
Shelbit and Aban Tether enter the sights of OFAC
Shelbit was already in the spotlight before the American decision. Tremplin.io had recently documented the Shelbit file and its transfers to Binance, against a backdrop of suspicions of money laundering and sanctions evasion. On August 7, Washington took a step forward by directly including the platform and its alleged operator in its sanctions system.
In his press release published on August 7, 2026the Office of Foreign Assets Control (OFAC), a branch of the US Treasury responsible for applying economic sanctions, is targeting two platforms: Shelbit and Aban Tether. The agency is also targeting Siavash Kayvanpour, presented as the man at the head of a network of companies established notably in Georgia, the United Arab Emirates and Poland.
THE first assessment relayed by Cointelegraph refers to more than $5 million in transfers detailed by the administration. The official press release, however, distinguishes several movements: more than 1 million dollars would have circulated from wallets controlled by the Islamic Revolutionary Guard Corps (IRGC) to Shelbit, more than 2 million from Shelbit to the IRGC, then more than 2 million addresses linked to Kayvanpour to Nobitex.
This breakdown does not allow us to state that all these amounts represent entirely separate capital.
Aban Tether follows another mechanic. According to OFAC, this Iranian platform processed millions of dollars in transactions with Nobitex, Wallex, Bitpin and Ramzinex, four Iranian exchanges already designated by Washington. The agency sanctions Aban Tether for its activity in the Iranian financial sector.
A network of companies and bets behind crypto flows
The file exceeds the two platforms displayed on the list. The Treasury describes Shelbit as the crossing point for a vast network of Persian-language betting sites, administered by two Iranian influencers convicted in 2023 for illegal gambling. Tens of millions of dollars from this set would have passed through Shelbit, while these sites retained access to the Iranian payment system.
Washington also links several companies to Kayvanpour: SHPS Shelbit in Georgia, Shelbit General Trading in the United Arab Emirates, Shelbit Technologies in Poland, as well as Crypto Home DMCC and NFT Home DMCC in Dubai. The UAE regulator VARA had already taken action against Shelbit General Trading in January 2025 and then in July 2026. Despite these interventions, the activity would have continued.
This offensive is part of a broader sequence. In May, Scott Bessent claimed that the United States had recovered $1 billion in crypto linked to Iran, without detailing all the operations involved. The new decision is therefore not an isolated blow: it broadens American pressure on providers who connect wallets, local platforms and commercial networks.
We will continue to increase economic pressure. Whether dollars, rials or crypto, the Treasury will track down and dismantle the illicit financial networks that keep the regime afloat.
Scott Bessent, US Secretary of the Treasury
The State Department is also offering up to $15 million for any information enabling it to disrupt the financial mechanisms of the IRGC and its various branches. This amount reflects the priority given to monitoring these circuits.
What sanctions change for crypto players
Registration on the OFAC lists produces immediate effects. Assets and interests owned in the United States, or controlled by U.S. persons, must be blocked and reported. The rule extends to entities owned 50% or more, directly or indirectly, by one or more sanctioned persons.
The restrictions don’t stop at the U.S. borders. Foreign financial institutions and companies may be exposed to sanctions if they carry out certain transactions with designated persons. OFAC can also impose civil penalties on the basis of strict liability, without having to demonstrate an intention to circumvent the rules.
This is the sensitive point for exchanges. Transfers on a public blockchain leave traces, but identifying actual beneficiaries still depends on internal controls, customer data and cooperation between authorities. A platform that maintains relationships with a sanctioned address or company may therefore see its access to banking partners and the American market significantly compromised.
In short, Washington is tightening its grip on the infrastructure that allows funds to circulate, not just on their final holders. The designation of Shelbit, the targeting of Aban Tether and the threat of secondary sanctions are pushing intermediaries to review their controls. The risk of sanctions for maritime companies had already shown how far this exposure could extend. Now, crypto platforms are warned.
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