Now, Tensions Over Cryptocurrency Have Begun Between Russia and Ukraine – Russia Has Issued a Statement

2026-01-25 17:22:27

Source: CryptoNewsNet Original Title: Now, Tensions Over Cryptocurrency Have Begun Between Russia and Ukraine – Russia Has Issued a Statement Original Link: The Russian Prosecutor General’s Office has declared WhiteBit, a Ukraine-based cryptocurrency exchange, a “notorious entity.”

The prosecutor’s office stated that the platform was used to facilitate illegal money transfers from Russia and to contribute to the financing of the Ukrainian Armed Forces (VSU). The decision also covers WhiteBit’s parent company, W Group, and all its affiliated and subsidiary companies.

Russian authorities allege that the group’s platforms were used for various illegal activities, including “plans to siphon funds away from Russia.” According to the Prosecutor General’s calculations, WhiteBit management transferred approximately $11 million to the Ukrainian military since 2022; it is claimed that about $900,000 of this amount was used for the purchase of unmanned aerial vehicles (drones).

The statement also alleged that WhiteBit cooperated with the Ukrainian Ministry of Foreign Affairs and provided technical support to the United24 platform, which collected crypto donations for Ukraine. Russian law enforcement claims that this cooperation facilitated the flow of crypto funds to Ukraine.

Founded in 2018 by Ukrainian citizens, WhiteBit boasts over 8 million users, according to the company itself. The platform reports daily trading volumes of approximately $11 billion in the spot market and up to $40 billion in futures trading.

On the other hand, there are currently no registered and operating cryptocurrency exchanges in Russia under existing legislation. The Central Bank of Russia (CBR) hopes to complete work on legal regulations for the regulation of cryptocurrency exchanges and cryptocurrency exchange services by July 1st. The CBR aims to introduce a liability regime for illegal brokerage activities in the crypto market by July 1, 2027.

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