Russia has moved to block crypto exchange WhiteBIT, after prosecutors labelled the platform and its affiliated organizations as “undesirable” over allegations tied to support for Ukraine’s war effort.The Prosecutor General’s Office of the Russian Federation posted, “A foreign cryptocurrency exchange that finances the Ukrainian regime has been declared undesirable in the Russian Federation.”Prosecutors also accused the exchange of enabling “gray” schemes to move money out of Russia and of facilitating other illegal activity, as Moscow steps up scrutiny of crypto rails linked to cross border flows.Funds Allegedly Used To Procure Drones For Ukrainian ForcesSince the first days of the military operation, the crypto exchange has actively supported the Ukrainian Armed Forces, implementing various programs in collaboration with Kyiv regime institutions, the Russian office said. In 2022, WhiteBit’s management donated a total of about $11M. Of this, $900,000 was allocated for the purchase of drone systems for the Ukrainian Armed Forces, the prosecutors said.“The leadership participates in international charity auctions, using the proceeds to purchase drones for Ukrainian militants, including members of the Azov terrorist organization, which is banned in our country,” it said.Move Sharpens Scrutiny Of Crypto In Wartime FinancingWhiteBIT’s own charity page says it has donated more than $11M since Feb. 2022, and says its payments arm Whitepay has helped collect more than 160M USDT in crypto donations.Russia’s “undesirable” designation effectively bans activity tied to the organisation inside the country and can expose people who cooperate with it to criminal liability, according to rights and legal trackers that follow the registry.The move lands against a long running tug of war over crypto’s role in wartime finance. Soon after Russia’s invasion of Ukraine in 2022, Ukraine’s digital ministry asked major exchanges to block Russian users, and some firms said they would follow sanctions rules without imposing blanket bans unless required by law.The post Russia Blacklists Crypto Exchange WhiteBIT Over Ukraine Support appeared first on Cryptonews.

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