The post Russia Bans WhiteBIT, Deeming Crypto Exchange ‘Undesirable’ Over Ukraine Support appeared on BitcoinEthereumNews.com.

In brief Russian authorities blacklisted crypto exchange WhiteBIT. They cited the exchange’s support of Ukraine’s military efforts. The company already prohibits Russian users. Russian authorities blacklisted WhiteBIT on Monday, highlighting the crypto exchange’s support of Ukraine’s war effort as the conflict in Europe enters its fourth year. The Prosecutor General’s Office of the Russian Federation designated WhiteBIT and parent company W Group as “undesirable organizations,” prohibiting the entities from holding bank accounts, transferring funds, or servicing customers within the country. In a press release, Russian authorities described WhiteBIT as a European platform. Although the company is currently headquartered in Vilnius, Lithuania, WhiteBIT was established in Kharkiv, Ukraine, by entrepreneur Volodymyr Nosov. A year ago, the company unveiled offices in New York, alongside the debut of a dedicated crypto-trading platform for U.S markets.  Russian authorities accused WhiteBIT of helping customers withdraw funds from the country through “gray schemes,” while also supporting “other illegal activities.” Decrypt has reached out to WhiteBIT for comment. The exchange has generated $1.1 billion worth of trading volume over the past day, according to CoinGecko. Binance, the world’s largest crypto exchange, meanwhile saw $14.2 billion worth of digital assets change hands. The authorities said that WhiteBIT’s platform has been used to support the Ukrainian military since Russia’s invasion of the country in February 2022. At times, WhiteBIT has allegedly collaborated with institutions linked to the Ukrainian government, they added. The prosecutor’s office also accused WhiteBIT’s management of donating $11 million to Ukraine in 2022, claiming that $900,000 was earmarked for the purchase of drone systems. WhiteBIT’s own website notes the same $11 million figure. The exchange is also supporting United24, a crypto donation platform established by Ukrainian President Volodymyr Zelenskyy, the Russian agency alleged. United24 has collected $3.4 billion in donations, according to its website. The…

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Filed under: News - @ January 26, 2026 11:26 pm