Bitpapa Exchange
Last changed 2026-10-27 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the judge moved the trust score from 6 to 0. Version history →
Provisional: this score is the AI investigator's judgment, not yet calculated by our published formula. Treat it as indicative. How scoring works →
anchored·5tJKaf…LGvESummary
Bitpapa (legally Bitpapa IC FZC LLC, also known as Bitpapa Pay, Baba House LLC and Papa Holding Ltd) is a UAE-registered peer-to-peer cryptocurrency exchange serving mainly Russian, Ukrainian, Belarusian, Kazakh and other CIS users through rouble-to-crypto trading. It has been designated under sanctions programs in four jurisdictions: the United States (OFAC, March 2024), Ukraine (July 2025), the United Kingdom (May 2026) and the European Union (21st package, transaction ban effective August 2026). Authorities and blockchain analytics firms allege it facilitated Russian sanctions evasion, including transactions with Garantex, Hydra Market and sanctioned banks, systematic address rotation to defeat monitoring, and services to the A7 LLC network and its rouble-pegged A7A5 stablecoin, which Bitpapa lists.
Connected Entities
11 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- A7A5 Ruble Stablecoin / A7 Network→mentioned with→Ethereum(70%)
- A7A5 Ruble Stablecoin / A7 Network→mentioned with→Grinex(70%)
- A7A5 Stablecoin / Old Vector→mentioned with→Grinex(70%)
- A7A5 Stablecoin / Old Vector→mentioned with→Ethereum(70%)
- Bitpapa IC FZC LLC→mentioned with→Grinex(60%)
- Binance→mentioned with→Ethereum(65%)
- Bitpapa IC FZC LLC→mentioned with→Ethereum(60%)
- Bitpapa IC FZC LLC→mentioned with→Bitcoin(60%)
- Bitpapa Exchange→mentioned with→HTX (Huobi) Exchange(60%)
- + 26 more
Timeline(13 events)
May 2020
Bitpapa reportedly begins operations as a peer-to-peer cryptocurrency exchange targeting Russian and CIS markets (approximate; other profiles place its founding in 2017 or 2018).
Monetory.io platform profileFebruary 2022
Russia invades Ukraine. Blockchain analytics later show Bitpapa's transactions with sanctioned entities increasing from this point.
Chainalysis29 April 2022
Bitpapa IC FZC LLC incorporated in the UAE (Ajman Media City Free Zone), the legal entity later subject to sanctions designations.
OpenSanctions entity profileJuly 2022
Bitpapa IC FZC LLC publicly announces the launch of its digital assets trading platform and mobile application.
Bitpapa.com launch announcement via Yahoo Finance25 March 2024
U.S. OFAC designates Bitpapa IC FZC LLC under Executive Order 14024 for allegedly facilitating millions of dollars in payments to OFAC-designated entities including Hydra Market and Garantex, and for allegedly rotating addresses to evade monitoring.
U.S. Treasury press releaseMarch 2025
Garantex, a primary alleged counterparty of Bitpapa, is shut down by law enforcement. Elliptic later identifies Bitpapa as one of five exchanges filling the vacuum in rouble-to-crypto services.
The BlockJune 2025
Bitpapa reportedly begins listing the rouble-pegged A7A5 stablecoin, coinciding with a surge in the token's trading volume.
ChainalysisJuly 2025
Ukraine's National Security and Defense Council sanctions Bitpapa IC FZC LLC (reported as July 6, 2025, running to July 6, 2035) as part of a decree targeting over 70 individuals and 60 companies for crypto-based sanctions evasion.
Decrypt; OpenSanctions entity profileFebruary 2026
Elliptic publishes a report flagging Bitpapa and four other exchanges as filling the role previously occupied by Garantex in Russia's sanctions-evasion infrastructure.
CoinDesk26 May 2026
UK FCDO designates Bitpapa IC FZC LLC under the Russia (Sanctions) (EU Exit) Regulations 2019 alongside 17 other entities and individuals, including HTX and EXMO, for allegedly supporting Russian sanctions evasion via the A7 network; imposes asset freeze, correspondent banking, internet services and payment-processing restrictions.
GOV.UK sanctions designation listJuly 2026
The Council of the European Union adopts its 21st sanctions package against Russia, including Bitpapa among the newly listed entities.
CryptoDailyAugust 2026
Binance notifies users it will stop processing transactions involving Bitpapa and other EU-sanctioned crypto platforms.
CoinpaprikaAugust 2026
EU transaction ban on Bitpapa and other sanctioned platforms takes effect.
cryptoticker.ioDecision Log
- slot 462188782 · hash JApbaMiHimxgfYgv2iH8wDX1Mhcw8bpk8XPJyU2749i1
- slot 462188778 · hash Feq2TFcPDGBDwppVgXyKo2phcrtgea5CRNKB4zVp9yxa
- slot 448231924 · hash 4ASV9kMEvCk2jgXqRCk8pv2vB8aFRDx5kK6p7LTCJRdk
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 25 of 31 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 9/18/2026, 11:17:02 PM
last updated: 10/27/2026, 7:27:03 PM
5 viewsavoid.net — verified advice for a post-truth world