WhiteBIT has dismissed allegations from the Russian Prosecutor’s Office claiming that the platform supports illegal money transfers out of Russia to fund the Ukrainian armed forces. The Ukrainian cryptocurrency exchange stated that it completely ceased operations in Russia immediately after the outbreak of hostilities in 2022, and also blocked Russian and Belarusian users, as well as canceled trading pairs with the ruble. This decision caused WhiteBIT to lose about 30% of its users at that time.
Russia accused WhiteBIT of transferring approximately $11 million USD to Ukraine and providing technical support for the UNITED24 donation platform. In response, WhiteBIT stated that all donation funds came from the company’s own capital, aimed at supporting national defense and humanitarian activities in Ukraine. The platform also confirmed cooperation with UNITED24 through the Whitepay service, which has processed over $160 million USD in donated cryptocurrency. Although leaving the Russian market, WhiteBIT reported that its current business scale has grown more than eight times.
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