Bitpapa Exchange
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anchored·5tJKaf…LGvESummary
Bitpapa (legally Bitpapa IC FZC LLC, also doing business as Baba House LLC and Papa Holding Ltd) is a UAE-registered peer-to-peer cryptocurrency exchange serving primarily Russian, Ukrainian, Belarusian, and other CIS-region users. It has been designated under sanctions programs in four separate jurisdictions — the United States (OFAC, March 2024), Ukraine (July 2025), the United Kingdom (May 2026), and the European Union (2026, effective August 2026) — each alleging that Bitpapa facilitated Russian sanctions evasion, including transactions with darknet markets and sanctioned banks and exchanges. The platform also independently lists the rouble-pegged A7A5 stablecoin, which researchers have linked to a sanctions-evasion network tied to a sanctioned political figure and a state-owned Russian bank.
Connected Entities
6 entities · 60 linked investigations- Bitpapa Exchange→mentioned with→HTX (Huobi) Exchange(60%)
- HTX (Huobi) Exchange→mentioned with→Binance(65%)
- A7A5 Ruble Stablecoin / A7 Network→mentioned with→A7A5 Stablecoin / Old Vector(80%)
- A7A5 Ruble Stablecoin / A7 Network→mentioned with→Bitpapa IC FZC LLC(80%)
- Bitpapa IC FZC LLC→mentioned with→A7A5 Stablecoin / Old Vector(80%)
- HTX (Huobi) Exchange→mentioned with→A7A5 Ruble Stablecoin / A7 Network(80%)
- A7A5 Stablecoin / Old Vector→mentioned with→HTX (Huobi) Exchange(60%)
- Bitpapa Exchange→mentioned with→A7A5 Ruble Stablecoin / A7 Network(75%)
- Bitpapa Exchange→mentioned with→Bitpapa IC FZC LLC(85%)
- Bitpapa IC FZC LLC→mentioned with→A7A5 Ruble Stablecoin / A7 Network(75%)
- + 2 more
Connected Through
5 shared actors · 512 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Binanceorganization
- △HTX (Huobi) Exchangeexchange
- ♦A7A5 Ruble Stablecoin / A7 Networktoken
- ♦A7A5 Stablecoin / Old Vectortoken
Timeline(8 events)
29 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 profile25 March 2024
U.S. OFAC designates Bitpapa IC FZC LLC under Executive Order 14024 for allegedly facilitating sanctions evasion via transactions with Hydra Market and Garantex.
U.S. Treasury press releaseJune 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 Defence Council designates Bitpapa under Ukrainian sanctions law.
OpenSanctions entity profile26 May 2026
UK FCDO designates Bitpapa IC FZC LLC 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.
CryptoDaily / VASPnet reporting on EU 21st sanctions packageAugust 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 448231924 · hash 4ASV9kMEvCk2jgXqRCk8pv2vB8aFRDx5kK6p7LTCJRdk
This investigation is cryptographically anchored to the Solana blockchain (1 decision). 15 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 9/18/2026, 11:17:02 PM
last updated: 9/18/2026, 11:17:03 PM
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