Russia Blacklists WhiteBIT Crypto Exchange
Posted: Tue Jan 27, 2026 1:21 am
In a significant escalation of geopolitical tensions in the crypto world, Russia’s Prosecutor General’s Office has officially designated the cryptocurrency exchange WhiteBIT and its parent company as “undesirable organizations.” This move effectively bans the platform from operating in the Russian Federation and carries potential criminal liability for any Russian citizens or entities that interact or cooperate with it.
Russian authorities claim the action is linked to accusations that WhiteBIT provided financial and technical support to Ukraine throughout the ongoing conflict with Russia. Prosecutors state that since the start of the war in February 2022, WhiteBIT’s leadership donated approximately $11 million to Ukrainian causes, with about $900,000 allegedly used to procure drone systems for the Ukrainian Armed Forces. Moscow also accused the exchange of facilitating “gray schemes” to transfer money out of Russia and assist Ukraine’s military efforts.
The undesirable designation under Russian law is a powerful regulatory tool that bars foreign entities from conducting business or maintaining any operational ties within the country. It bans banks and financial institutions from processing transactions involving WhiteBIT and requires reporting of any Russian engagement with the platform. Failure to comply may result in significant fines or even imprisonment for repeated violations.
WhiteBIT, founded in 2018 by Ukrainian entrepreneur Volodymyr Nosov and based in Lithuania, is one of Europe’s largest crypto exchanges, serving millions of users globally. The exchange has publicly acknowledged its donations and support for Ukrainian defense and humanitarian efforts, framing them as transparent and lawful contributions rather than covert or illegal activity.
The blacklisting of WhiteBIT highlights how cryptocurrency platforms are increasingly entangled in geopolitical conflicts and regulatory crackdowns, with digital asset infrastructure becoming a frontline arena for state policy actions.
Russian authorities claim the action is linked to accusations that WhiteBIT provided financial and technical support to Ukraine throughout the ongoing conflict with Russia. Prosecutors state that since the start of the war in February 2022, WhiteBIT’s leadership donated approximately $11 million to Ukrainian causes, with about $900,000 allegedly used to procure drone systems for the Ukrainian Armed Forces. Moscow also accused the exchange of facilitating “gray schemes” to transfer money out of Russia and assist Ukraine’s military efforts.
The undesirable designation under Russian law is a powerful regulatory tool that bars foreign entities from conducting business or maintaining any operational ties within the country. It bans banks and financial institutions from processing transactions involving WhiteBIT and requires reporting of any Russian engagement with the platform. Failure to comply may result in significant fines or even imprisonment for repeated violations.
WhiteBIT, founded in 2018 by Ukrainian entrepreneur Volodymyr Nosov and based in Lithuania, is one of Europe’s largest crypto exchanges, serving millions of users globally. The exchange has publicly acknowledged its donations and support for Ukrainian defense and humanitarian efforts, framing them as transparent and lawful contributions rather than covert or illegal activity.
The blacklisting of WhiteBIT highlights how cryptocurrency platforms are increasingly entangled in geopolitical conflicts and regulatory crackdowns, with digital asset infrastructure becoming a frontline arena for state policy actions.