Russian authorities are looking out to banish WhiteBIT, a favored cryptocurrency alternate within the space, over its involvement in efforts to fund Ukraine’s protection within the face of ongoing Russian aggression.
Prosecutors in Moscow accuse the EU-registered buying and selling platform of actively supporting the Ukrainian aspect because the start of the fleshy-scale Russian invasion close to four years ago, and blame it for facilitating capital flight from Russia.
Russian prosecutors target cryptocurrency alternate WhiteBIT
Russia’s Prosecutor In model’s Arrangement of job has declared the activities of WhiteBIT and its network of work-mates and subsidiaries within the fintech W Community, “undesirable” within the Russian Federation, with out elaborating on the implications.
A observation issued Friday alleged:
“This European crypto buying and selling platform is feeble by cryptocurrency exchanges and exchangers to behavior varied transactions, including organizing ‘grey’ schemes to withdraw funds from Russia, as well to other unlawful activities.”
Russian prosecutors also highlighted that the alternate has actively supported the Ukrainian Armed Forces because the first days of what Moscow continues to name “the actual protection force operation” on the territory of its neighbor.
WhiteBIT is being accused of “enforcing varied programs in collaboration with the Kyiv regime institutions,” per the press release, which further detailed:
“In 2022, WhiteBIT’s administration transferred an entire of roughly $11 million to them. $900,000 used to be dispensed for the acquisition of drone systems.”
The prosecutor’s location of job pointed out that the crypto company’s executives participate in global charity auctions, donating the proceeds for the same reason.
It eminent that just a few of the UAVs bought with the money prove within the fingers of the Azov Brigade of Ukraine’s National Guard, regarded by Russia as a terrorist organization.
“WhiteBIT cooperates with the Ministry of Foreign Affairs of Ukraine. Since May 2022, the alternate has been offering technical toughen to the United24 fundraising platform, created at the initiative of the President of Ukraine to receive cryptocurrency donations,” the announcement added, quoted by Russian-language crypto media within the space.
Ukrainian-rooted WhiteBIT is one of Europe’s greatest coin buying and selling platforms
WhiteBIT, which brands itself as an primary European crypto alternate by traffic, is mainly amongst the tip buying and selling venues for digital sources on the Old Continent.
Founded by Ukrainian entrepreneur Volodymyr Nosov in 2018 and registered in Lithuania, it has develop exact into a prime global platform, as share of the W Community, with thousands and thousands of users at some level of many countries.
Nosov, who shall be the CEO of WhiteBIT, has been known for his efforts to advertise crypto adoption in wartorn Ukraine, including through varied partnerships and charitable initiatives.
Ukrainian coin utilization spiked amid the bitter battle with Russia, which also introduced fiat restrictions imposed by the National Financial institution of Ukraine (NBU) below martial law in each place in the initial stages of the wrestle.
The invaded Eastern European nation ranked amongst the field’s top adopters within the 2025 Geography of Cryptocurrency file produced by the blockchain analytics firm Chainalysis.
The authorities in Kyiv own been taking steps to legalize cryptocurrencies and properly preserve an eye on the nation’s increasing digital-asset economy.
Their first strive to perform that, in early 2022, used to be postponed by the Russian protection force assault, which started in February of that 12 months.
In September 2025, lawmakers within the Verkhovna Rada, Ukraine’s unicameral legislature, accredited a bill “On Virtual Asset Markets,” as reported by Cryptopolitan. At the time, Nosov welcomed the model, emphasizing its significance:
“A window of opportunity has opened for attracting crypto investments and repatriating international sources of Ukrainian crypto fans.”
In the meantime, Russia has also taken the scuttle toward regulating rather then banning cryptocurrencies and connected activities, although it’s clearly going to perform it the Russian manner.
The nation legalized the mining of digital currencies in August 2024 and introduced an “experimental” moral regime for restricted crypto transactions the following spring.
The transient association has been essentially feeble to bypass Western monetary restrictions in detrimental-border commerce and for strictly managed crypto funding by “extremely qualified” investors.
Then, in late December 2025, the Financial institution of Russia introduced a fresh regulatory belief that objectives to acknowledge cryptocurrencies and stablecoins as “monetary sources” and enhance investor receive admission to.
Officials in Moscow are insisting the nation needs its maintain crypto infrastructure to faucet into the profits generated by the booming mining sector, lop relief dependence on international buying and selling platforms and limit capital flight through digital sources.
