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BTCC / BTCC Square / Global Cryptocurrency /
Russia Escalates Crypto Crackdown, Blacklists WhiteBit Over Alleged Ukraine Funding

Russia Escalates Crypto Crackdown, Blacklists WhiteBit Over Alleged Ukraine Funding

Author:
Global Cryptocurrency
Published:
2026-01-25 18:10:02
16
2
BTCCSquare news:

Russia's Prosecutor General has declared Ukrainian cryptocurrency exchange WhiteBit and its parent company W Group 'undesirable organizations,' marking Moscow's sharpest enforcement action against foreign crypto platforms to date. The designation effectively bans all Russian entities from transacting with the exchange amid allegations it facilitated $11 million in fund transfers from Russia to Ukraine since 2022.

Authorities claim nearly $900,000 of these flows supported Ukraine's armed forces, with WhiteBit's infrastructure allegedly enabling complex transactions beyond standard crypto trading. The exchange is also accused of providing technical support to United24, Kyiv's official fundraising platform. These unverified assertions reflect the Kremlin's hardening stance on cross-border crypto activity as geopolitical tensions persist.

The MOVE coincides with Russia's broader regulatory squeeze on digital assets, though notable coins like BTC, ETH, and XRP—traded on major exchanges such as Binance and Coinbase—remain unaffected. WhiteBit's operational status in other jurisdictions is unchanged.

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