Statement Regarding Recent Media Reports
This page provides an official clarification concerning the former operations of Shelbit LLC, its wind-down and deregistration in Georgia, and recent allegations circulated by media outlets.
Operational Wind-Down and Deregistration
According to the former management of Shelbit LLC, the company began winding down its operations in December 2025. Customer-facing services and new business activity were discontinued during that period.
According to the former management, the customer wind-down process had been concluded by January 2026, after which the company no longer onboarded customers, accepted new funds, provided services, or carried out new business transactions.
The remaining corporate and administrative procedures continued in Georgia. On 30 July 2026, the National Agency of Public Registry of Georgia issued a formal decision cancelling the registration of Shelbit LLC, effective upon publication.
Corporate and Regulatory Clarification
Shelbit LLC was incorporated in Georgia.
The company held a General Service licence issued within the Tbilisi Free Industrial Zone. The licence described the permitted business type as crypto brokerage and VASP activities.
Shelbit LLC was a Georgian entity. Its licensed crypto brokerage and VASP activities were conducted under its Georgian corporate and regulatory framework and were not conducted through any company registered in the United Arab Emirates.
Following the cessation of its operations in Georgia and the formal cancellation of its registration, Shelbit LLC no longer conducts any business activities.
Response to Allegations
The former management of Shelbit LLC categorically rejects any suggestion that the company knowingly participated in money laundering, terrorist financing, illegal gambling activity, sanctions evasion, or activity on behalf of any sanctioned, military, or governmental organization.
Media allegations should not be presented as established facts, criminal convictions, or final judicial findings unless and until determined by a competent court.
Blockchain transactions and wallet relationships can be misinterpreted where third-party attribution, indirect transaction paths, exchange infrastructure, customer activity, or intermediary wallets are treated as proof of ownership, control, knowledge, or intent without supporting evidence.
Legal Position
The former management of Shelbit LLC and other affected parties are consulting legal counsel regarding appropriate steps in response to reports they consider inaccurate, misleading, or unsupported, including reports subsequently repeated by other media outlets.
They reserve all rights to protect their reputations, defend their legal rights, and seek appropriate remedies where false or misleading statements have caused harm.
Established media organizations may request an opportunity to review supporting records and relevant documentation, subject to legal, confidentiality, and data-protection requirements.
Documents and Confidentiality
Official Georgian corporate records, the former operating licence, and the formal 30 July 2026 registration-cancellation decision are available for review by legal counsel, competent authorities, and established media organizations where appropriate.
Former customer information, personal data, compliance files, and confidential transaction records will not be published publicly and will only be disclosed where legally appropriate and subject to applicable confidentiality and data-protection requirements.
Media and Legal Enquiries
Journalists, legal representatives, and relevant authorities seeking an official response or requesting supporting documentation may contact:
Email: corp@shelbit.com