Bloomberg reports, citing blockchain analytics firm TRM Labs, that the crypto exchange 'Shalabit'—which the US Treasury sanctioned on Friday—transferred over $6.3 billion between May 2024 and April 2026, including funds on behalf of Iran's Islamic Revolutionary Guard Corps (IRGC) and the Hamas terror group. The report highlights the scale of illicit finance flowing through sanctioned platforms.
Bloomberg, citing blockchain analytics firm TRM Labs, reported that the crypto exchange 'Shalabit'—sanctioned by the US Treasury on Friday—transferred over $6.3 billion between May 2024 and April 2026, with funds moving on behalf of Iran's Islamic Revolutionary Guard Corps (IRGC) and the Hamas terror group. The analysis provides the most detailed public account of the exchange's operations, revealing the scale of illicit finance flowing through a sanctioned platform. The US Treasury has previously targeted IRGC-linked crypto wallets, freezing $130 million in assets, and has sanctioned other exchanges, as The Zioneer has reported. The report comes amid an ongoing US-Iran confrontation, which has included the IRGC's threat to close the Strait of Hormuz and US airstrikes on Iranian targets.
- StrongIsrael sanctions 37 IRGC-linked crypto wallets containing $7 million
- StrongUS Treasury sanctions two major crypto exchanges over IRGC-linked financing
- StrongReuters: IRGC used gambling websites and Dubai crypto exchange to evade $4 billion in sanctions, investigation names two influencers
- DevelopingLeaked documents: Elbit Systems negotiated $1.3 billion arms deals with UAE, including Hermes drones
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