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The Russian Prosecutor’s Office has recognized the WhiteBit crypto exchange as undesirable, 2026/01/23 16:08:42
The Russian Prosecutor General’s Office has recognized the Ukrainian cryptocurrency exchange WhiteBit as an undesirable organization. The supervisory agency believes that money was illegally withdrawn from Russia through the exchange, including to finance the Armed Forces of Ukraine.
The parent company of the exchange, W Group, and all associated affiliates and subsidiaries are also considered undesirable. The Prosecutor General’s Office insists: through the group’s platforms “various types of transactions were carried out, including for the organization of gray schemes for the withdrawal of funds from Russia, as well as other illegal activities.”
The Russian supervisory agency is confident that WhiteBit provides financial support to the Ukrainian Armed Forces. Since 2022, the management of the exchange, according to the estimates of the State Prosecutor’s Office, has transferred about $11 million in total to the Ukrainian army, including approximately $0.9 million for the purchase of drones.
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The department also announced the cooperation of the crypto platform with the Ministry of Foreign Affairs of Ukraine. Law enforcement officers believe that the exchange provides technical support to the United24 fundraising platform, on which donations in cryptocurrency are collected for the needs of Ukraine.
WhiteBit is a cryptocurrency exchange created by citizens of Ukraine in 2018. According to the owners of the platform, its audience exceeds 8 million users, and the trading volume reaches $11 billion per day on the spot market and up to $40 billion on the futures market.
There are no crypto exchanges registered in Russia in accordance with current legislation. The Bank of Russia hopes that the development of amendments to the legislation on the regulation of exchanges and crypto exchangers will be completed before July 1. From July 1, 2027, the Central Bank of the Russian Federation wants to establish liability for the illegal activities of intermediaries in the cryptocurrency market.
