Overview
- Russia’s designation covers WhiteBIT and parent W Group, making any interaction by Russian individuals or entities potentially criminal.
- Officials allege nearly $900,000 went toward drone procurement and accuse the exchange of running gray schemes to move funds out of Russia.
- WhiteBIT says it left the Russian market in early 2022, blocked Russian and Belarusian users, and removed ruble pairs as it expanded internationally.
- The company confirms $11 million in its own donations, while its Whitepay arm reports facilitating more than $160 million for defense and humanitarian efforts.
- The move coincides with a push to license crypto platforms, set retail investor limits, and impose penalties, with key measures targeted by July 1, 2027 and draft laws expected in the first half of 2026.