Catenaa, Sunday, February 01, 2026-Russia has designated crypto exchange WhiteBIT as an undesirable organization, effectively prohibiting the platform from operating in the country over alleged support for Ukraine’s military.

The Prosecutor General’s Office said the Lithuania based exchange offered financial and technical backing to Ukraine linked initiatives, including fundraising tied to the Armed Forces of Ukraine.

Under Russia’s law on undesirable organizations, listed entities must halt activity, while cooperation can lead to fines or criminal liability with possible prison terms.

Russian authorities said WhiteBIT management transferred about $11 million in 2022 to Ukraine related defense efforts, including funding associated with drone procurement. Moscow also accused the exchange of enabling gray schemes to move funds out of Russia.

The amount cited by prosecutors broadly matches figures WhiteBIT has publicly disclosed regarding donations since the war began.

WhiteBIT has openly acknowledged support for Ukraine.

The company has said it supplied technical infrastructure for United24, a crypto enabled fundraising platform launched at the initiative of Ukrainian President Volodymyr Zelenskyy for humanitarian and defense purposes.

The move reflects wider pressure on crypto activity amid the conflict. In July 2025, Ukrainian authorities imposed a new sanctions package targeting Russian financial and crypto schemes, blacklisting dozens of entities and individuals accused of aiding sanctions evasion and military financing, according to public reports.

Despite the ban in Russia, WhiteBIT continues to expand abroad. The exchange announced a US launch in December alongside a marketing campaign in New York’s Times Square.

It has also reported growth across Australia, Argentina and Brazil as part of its international expansion strategy.

WhiteBIT did not immediately comment on the Russian designation.