- WhiteBIT and its parent W Group were declared “undesirable organizations” by Russia’s prosecutor general, a label that criminalizes activity involving the firms in Russia.
- Russian authorities accused the exchange of using “gray schemes” to move funds abroad and of supporting Ukraine’s military, and said it sent at least $11 million to Ukraine’s armed forces.
- WhiteBIT says it left the Russian market in early 2022, blocked Russian and Belarusian users and removed ruble trading pairs, a move that cost it roughly 30% of its user base.
- The company confirmed the $11 million figure and said its payments arm, Whitepay, has processed over $160 million in donations to defense and humanitarian efforts; it also stated *“Over the four years of full-scale war, WhiteBIT has donated around 11 million USD of its own funds to support Ukraine’s defense forces and humanitarian initiatives for civilians. These actions reflect the company’s values and civic position as a business with roots in Ukraine operating during wartime.”*
- WhiteBIT says it has grown eightfold since early 2022 and now serves more than 8 million users while [expanding into the U.S. market](https://blog.whitebit.com/en/whitebit-us-launch/).
Russia’s prosecutor general has officially labeled the Ukrainian-founded exchange WhiteBIT and its parent W Group as “undesirable organizations,” a legal classification that criminalizes dealings with the firms in Russia, according to an official notice that designated them. Authorities accused the exchange of running “gray schemes” to move funds out of Russia and of supporting Ukraine’s military since February 2022.
The Russian action follows the company’s move away from the Russian market. WhiteBIT, founded in 2018 by Volodymyr Nosov, said it exited soon after the full-scale invasion and blocked Russian and Belarusian users, removing ruble trading pairs. The company says that decision cost about 30% of its user base at the time.
Russian prosecutors stated that the exchange directed at least $11 million to Ukraine’s military, including nearly $1 million for drone purchases. The company confirmed the $11 million figure and said its payments unit, Whitepay, has helped process more than $160 million in donations to defense and humanitarian causes.
WhiteBIT reported strong growth since leaving Russia, saying it has expanded eightfold to serve over 8 million users and is entering the U.S. market. The Russian designation carries legal risk for residents: officials warned that any Russian citizen who interacts with the named firms could face criminal charges.
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