According to CoinMeta, Wu said that the US Treasury Department announced sanctions against cryptocurrency trading platforms and related entities associated with activities to circumvent sanctions by the Islamic Revolutionary Guard of Iran (IRGC), including Shelbit Exchange, Aban Tether, as well as Siavash Kayvanpour, the operator of Shelbit, and several companies controlled by it. OFAC stated that addresses related to IRGC transferred over $1 million in digital assets to Shelbit, while an address under Shelbit transferred over $2 million to addresses related to IRGC. Addresses controlled by Kayvanpour also transferred over $2 million to Nobitex, which has already been sanctioned by the United States. Aban Tether handled millions of dollars in transactions related to sanctioned Iranian cryptocurrency platforms such as Nobitex, Wallex, Bitpin, and Ramzinex. Property and interests of the sanctioned entities located within the United States or controlled by Americans will be frozen.