The Russian Prosecutor’s Office has declared the activities of European Bitcoin (BTC) exchange WhiteBIT and its W Group group on Russian territory “undesirable.” The decision bans all forms of cooperation, transactions and promotions related to the platform in the country, marking a new chapter in the complex web of digital finance and geopolitical sanctions.
Russian authorities They justify this measure with a series of accusations. They claim the exchange facilitates “schemes to illegally withdraw funds from the country,” a claim that echoes Moscow’s concerns about capital flight. Moreover, and more forcefully, the Prosecutor’s Office accuses WhiteBIT of “supporting the Ukrainian military” since the start of “special military operations” in February 2022.
According to an official statement from the Attorney General’s Office, WhiteBIT was scheduled to transfer approximately $11 million in 2022. It is stated that of this amount, $900,000 was specifically allocated to the acquisition of drone systems for the Ukrainian military.
The platform is also notable for providing technical support to United24, an initiative launched by the President of Ukraine in May 2022 in cooperation with the Ministry of Foreign Affairs to collect donations in Bitcoin and other digital assets.
The statement goes further by mentioning WhiteBIT’s participation in a charity auction that enabled the acquisition of drones intended for members of the Azov organization, which is banned in Russia.
This designation as “undesirable” The list of foreign organizations Russia considers a threat grows to national security. Past cases such as Amnesty International in 2025 demonstrate the scope and seriousness of these measures.
Russia’s decision highlights rising geopolitical tensions and the role of Bitcoin and cryptocurrencies in the Russia-Ukraine conflict. WhiteBIT is one of the most relevant exchanges on the continent, based in Europe, with origins in Ukraine, and has been operating for over 6 years.
WhiteBIT’s view on Bitcoin
WhiteBIT responded to the Russian Prosecutor General’s Office’s decision with a statement saying that the move clearly confirms its consistent pro-Ukrainian position. However, the exchange has refused to operate in Russia since the large-scale invasion began in February 2022.
In response to a request for comment from CriptoNoticias, the team behind the exchange It added that it had blocked all users from Russia and Belarus. And the trading pair with the Russian ruble was abolished. This decision resulted in the loss of approximately 30% of its user base at the time.
The company acknowledged that it has maintained a pro-Ukrainian stance since signing a memorandum of cooperation with the Ministry of Foreign Affairs in 2022. Under the agreement, WhiteBIT provided consular support services in the countries where it has offices and supported the ministry’s crisis center and 24/7 helpline for Ukrainian nationals abroad.
WhiteBit has confirmed that it is facilitating crypto donations to major charities and humanitarian organizations in Ukraine. In total, WhiteBIT and Whitepay Collected over $160 million in crypto donations For humanitarian and defense purposes.
The statement details that WhiteBIT has donated approximately $11 million directly from its own funds to support humanitarian efforts for the Ukrainian Armed Forces and civilians during the four years of massive war.
For this reason, founder Volodymyr Nosov has been recognized nationally for his contributions, including awards from the Presidential Initiative UNITED24, the Supreme Commander of the Armed Forces of Ukraine, security services and military intelligence agencies.
Despite Russian sanctions and the initial impact on its operations, WhiteBIT says it has increased its size and international presence more than eightfold since 2022. For all these reasons, the designation as an undesirable organization is Closes the possibility of returning to the Russian market and strengthen geopolitical polarization in the digital asset ecosystem.
While the Russian government views WhiteBIT as a threat to its security and capital control, Ukrainian exchanges have reaffirmed their commitment to Ukraine and the values it considers non-negotiable. This case illustrates how crypto platforms can become involuntarily or intentionally involved in conflicts in the context of protracted wars and intersecting sanctions.