Russia Targets Crypto’s Shadow War Pipeline as WhiteBit Faces Sweeping Ban

Russia’s Prosecutor General has designated Ukrainian cryptocurrency exchange WhiteBit as an “undesirable organization. ” They accuse it of facilitating illegal fund transfers out of Russia and financing Ukraine’s armed forces. The designation also extends to WhiteBit’s parent company, W Group, and all affiliated entities, effectively banning their operations in Russia. Russia Moves Against WhiteBit in Escalating Crypto–War Crackdown Local media reports that, according to Russian authorities, WhiteBit’s management has moved approximately $11 million to Ukraine since 2022 source: https://beincrypto.com/russia-cryptos-shadow-war-ukraine-whitebit-ban/