According to a Reuters investigation, an Iran-linked exchange allegedly transferred $676 million to Binance via an unlicensed Dubai platform named Shelbit. The latter is believed to have handled funds from Iranian state-linked wallets and a Farsi-language online gambling network. Binance stated that Shelbit never held a formal account on its platform but had frozen relevant accounts after an internal review. This case comes amid heightened U.S. scrutiny over potential sanctions violations involving Iran.
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