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{"actor":"system:backfill","investigation_id":"750f207a-72ac-4e22-9e78-a86daa24d1d2","kind":"publish","page_slug":"whitebit-coin","published_at":"2026-05-14T06:02:24.071Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"WhiteBIT Coin","sections":[{"content":"WhiteBIT was founded in 2018 by Volodymyr Nosov, who serves publicly as CEO and President of parent company W Group. The exchange relocated its headquarters from Ukraine to Lithuania following Russia's 2022 invasion of Ukraine. WhiteBIT claims to operate across more than 900 trading pairs, 340+ assets, and 8 fiat currencies, serving a reported 35 million customers globally. The exchange describes itself as Europe's largest centralized crypto-to-fiat exchange by traffic. Nosov was appointed Honorary Consul of Ukraine in the Balearic Islands (Palma de Mallorca) in November 2024. WhiteBIT expanded into the US market in December 2025, with a launch campaign including Times Square advertising, and has also announced operations in Australia, Argentina, Brazil, and Saudi Arabia.","heading":"Exchange Background and Operations","severity":"low","sources":[{"credibility":2,"name":"WhiteBIT About Page — WhiteBIT Blog","type":"official","url":"https://blog.whitebit.com/en/whitebit-about-us/"},{"credibility":2,"name":"WhiteBIT CEO Volodymyr Nosov Appointed Ukraine's Honorary Consul in Spain — GNcrypto News","type":"news_article","url":"https://www.gncrypto.news/news/whitebit-ceo-named-ukraines-honorary-consul-in-spain/"},{"credibility":2,"name":"Ukrainian-Founded Crypto Exchange WhiteBIT Officially Enters the US Market — Scroll.media","type":"news_article","url":"https://scroll.media/en/2025/12/01/whitebit-enters-us-market/"},{"credibility":2,"name":"WhiteBIT CEO LIGA.net Interview","type":"news_article","url":"https://finance.liga.net/en/cryptoeconomics/interview/i-see-growth-areas-where-everything-seems-stable--an-interview-with-the-ceo-of-the-whitebit-crypto-exchange"}]},{"content":"WBT was introduced in August 2022 as the native utility token of the WhiteBIT ecosystem. Its maximum supply is hard-capped at 400 million coins. Approximately 214 million WBT were in circulation as of early 2026. Initial distribution included 120 million WBT allocated to special-purpose treasury funds available at listing, 54 million sold in a private sale at $1.62 per coin (locked for three months, then unlocked 20% monthly over five months), and 1 million offered in a public IEO on WhiteBIT Launchpad. An additional 200 million coins are held in a locked Treasury Fund 2, subject to a multi-year unlock schedule. WhiteBIT operates a deflationary burn mechanism that allocates 33% of trading fees and 5% of other income to weekly WBT buybacks and burns. More than 79 million WBT coins have reportedly been burned as of early 2026. WBT also serves as the gas token for Whitechain, WhiteBIT's EVM-compatible Layer 1 blockchain (launched 2023, rebranded from WB Network), built on a Proof-of-Authority consensus mechanism. Token holders receive proportional Whitechain transaction fee distributions via the SoulDrop mechanism (minimum 10 WBT holding required). Additional utility includes trading fee discounts of up to 100% on maker fees, Launchpad access, and free AML check features. The token's large initial treasury allocation and multi-year unlock schedule represent structural concentration risks for investors.","heading":"WBT Token: Tokenomics and Utility","severity":"medium","sources":[{"credibility":2,"name":"Token Spotlight: What is WhiteBIT Coin (WBT)? — Kraken Blog","type":"research","url":"https://blog.kraken.com/token-spotlight/what-is-whitebit-coin-wbt"},{"credibility":2,"name":"All about WBT Coin — WhiteBIT Help Center","type":"official","url":"https://help.whitebit.com/hc/en-gb/articles/17190215630493-All-about-WBT-Coin"},{"credibility":2,"name":"WhiteBIT Coin (WBT) Token Unlocks and Vesting — CryptoRank.io","type":"research","url":"https://cryptorank.io/price/whitebit-token/vesting"},{"credibility":2,"name":"Whitechain Documentation","type":"official","url":"https://docs.whitechain.io/"}]},{"content":"WBT reached an all-time high of approximately $64.11 in December 2025, climbing from roughly $6 at the start of 2024. The token surpassed $15 billion in market capitalization in late 2025. In December 2025, S&P Dow Jones Indices added WBT to five cryptocurrency indices: the Broad Digital Market (BDM) Index, the Cryptocurrency Financials Index, the Cryptocurrency LargeCap Ex-MegaCap Index, and the Cryptocurrency LargeCap Index. WBT began trading on Kraken on March 5, 2026, with WBT/EUR and WBT/USD pairs, increasing institutional access. However, Gate.io announced a WBT delisting effective January 8, 2025, the reasons for which were not publicly detailed in Gate.io's announcement. The token previously appeared on CoinGecko's tracker but was temporarily removed by CoinGecko without stated explanation, according to third-party reporting; WhiteBIT's CoinGecko exchange page remains active as of 2026.","heading":"Market Performance and Institutional Recognition","severity":"medium","sources":[{"credibility":2,"name":"S&P Adds WhiteBIT's Native Coin to Five Key Cryptocurrency Indices — Invezz","type":"news_article","url":"https://invezz.com/news/2025/12/04/sp-adds-whitebits-native-coin-to-five-key-cryptocurrency-indices/"},{"credibility":1,"name":"WhiteBIT Coin WBT Added to Five S&P Cryptocurrency Indices — PR Newswire","type":"news_article","url":"https://www.prnewswire.com/news-releases/whitebits-native-coin-wbt-added-to-five-sp-cryptocurrency-indices-302632954.html"},{"credibility":2,"name":"WhiteBIT Coin Gains Momentum After Kraken Listing — CoinCodex","type":"news_article","url":"https://coincodex.com/article/82666/whitebit-coin-gains-momentum-after-kraken-listing-as-token-climbs-to-top-11-by-market-cap/"},{"credibility":2,"name":"Gate to Delist WhiteBIT Token (WBT) — Gate.com Announcements","type":"official","url":"https://www.gate.com/announcements/article/42432"},{"credibility":2,"name":"WBT Price Today — CoinMarketCap","type":"research","url":"https://coinmarketcap.com/currencies/whitebit-token/"}]},{"content":"The most serious structural concern regarding WhiteBIT relates to alleged beneficial ownership. Multiple Ukrainian investigative outlets and civil society organizations claim that Volodymyr Nosov serves as a public figurehead while the actual controlling shareholders are Dmytro Shentsev and his son Mykyta Shentsev, allegedly holding more than 60% of the business. Dmytro Shentsev was elected to Ukraine's Verkhovna Rada from the 'Party of Regions' and later the 'Opposition Bloc,' parties associated with pro-Russian politics. According to reporting, Dmytro Shentsev held Russian citizenship and was stripped of Ukrainian citizenship by presidential decree in 2023. Mykyta Shentsev is separately alleged to hold Russian citizenship and to have been 'awarded by Moscow for the popularization of the Russian language.' Reporting from the NGO NON-STOP and ANTIKOR portal states Mykyta Shentsev controlled 51% of the Estonian parent company of WhiteBIT as of March 2023 before shares were reportedly transferred to Nosov. WhiteBIT formally denies these ownership claims, with Nosov stating he is the sole founder and head of the exchange. The Shentsev family allegedly began removing investigative content about these ties from the internet following their public exposure, according to investigative outlet Rozsliduvach.info. No court filing or regulatory body has formally adjudicated the ownership question as of the investigation date.","heading":"Disputed Ownership and Alleged Pro-Russian Beneficial Owners","severity":"high","sources":[{"credibility":2,"name":"WhiteBIT under scrutiny: sanctions evasion, offshore operations — ANTIKOR portal","type":"news_article","url":"https://antikor.info/en/articles/803239-whitebit_pod_pritselom_kak_ukrainskaja_kriptobirha_s_prorossijskim_proshlym_obhodit_sanktsii_operiruet_milliardami_v_ofshorah_i_ne_podpadaet_pod_kontr"},{"credibility":2,"name":"Is WhiteBIT helping Russia evade sanctions and launder money? — Crypto Intelligence","type":"news_article","url":"https://www.cryptointelligence.co.uk/is-whitebit-helping-russia-evade-sanctions-and-launder-money/"},{"credibility":2,"name":"After the exposure of a 'Russian trace,' Shentsev family scrubs internet investigations — Rozsliduvach.info","type":"news_article","url":"https://rozsliduvach.info/news/247907-after_the_expocure_of_a_russian_trace_in_the_whitebit_crypto_exchange_former_party_of_regions_figures_dmytro_and_mykyta_shentsev_began_scrubbing_the_i"},{"credibility":3,"name":"WhiteBIT dossier — NGO NON-STOP","type":"community_report","url":"https://go-ns.org.ua/en/dossier/whitebit/"},{"credibility":2,"name":"From a small Ukrainian exchange to third-largest platform token by market cap — PANews","type":"news_article","url":"https://www.panewslab.com/en/articles/rqn0aaqr"}]},{"content":"In early 2024, Kyrgyz cryptocurrency exchange Four Dragons was hacked with over $841,000 in crypto assets stolen. On-chain tracing allegedly showed stolen funds routed through multiple exchange points to WhiteBIT, where assets were converted and further transferred to KuCoin, Gate.io, and other exchanges. Three criminal cases were initiated in the Kyrgyz Republic under multiple articles of the Criminal Code (Articles 205 part 4, 222 part 3, 262), with suspects placed on Interpol Red Notice. Four Dragons publicly alleged that over $2.7 billion in 'dirty dollars' had been laundered through WhiteBIT across multiple cases in Austria, UAE, Uzbekistan, and Kyrgyzstan. WhiteBIT states it froze $46,450 of the stolen assets, marked suspicious wallet addresses, and returned frozen funds to rightful owners on November 24, 2024. WhiteBIT denies receiving any Interpol requests related to the matter and characterizes the allegations as a 'coordinated information attack' stemming from extortion demands. Separately, an audit fraud allegation emerged in which a former Deloitte senior manager allegedly stated WhiteBIT's actual reserves were 'thousands of times less than stated,' though WhiteBIT's official Hacken proof-of-reserves audit (November 2024) reported a total collateral ratio of 238%. About $12 million in Bitcoin associated with Russian exchange BTC-e — whose founder Aleksandr Vinnik was convicted for laundering approximately $4 billion — was allegedly transferred to WhiteBIT in March 2023, according to Russian IT journalists; this claim has not been independently verified by a Tier 1 source.","heading":"Money Laundering Allegations: Four Dragons Incident and Broader Claims","severity":"critical","sources":[{"credibility":3,"name":"Open Questions to WhiteBIT Regarding the Theft and Laundering of over $2.7 Billion — 4-Dragons.com","type":"community_report","url":"https://4-dragons.com/open-questions-to-whitebit-regarding-the-theft-and-laundering-of-over-usd-2.7-billion"},{"credibility":2,"name":"$2.7 billion in 'dirty' dollars: Who is behind WhiteBIT and its frauds? — InView.org.uk","type":"news_article","url":"https://inview.org.uk/news/180856-2.7_billion_in_dirty_dollarc_who_is_behind_the_whitebit_crypto_exchange_and_its_frauds"},{"credibility":2,"name":"Official Statement by WhiteBIT — WhiteBIT Blog","type":"official","url":"https://blog.whitebit.com/en/official-statement-by-whitebit/"},{"credibility":2,"name":"WhiteBIT cryptocurrency exchange caught laundering Russian money — ANTIKOR portal","type":"news_article","url":"https://antikor.info/en/articles/622612-kriptobirhu_whitebit_ulichili_v_otmyvanii_rossijskih_deneg_podrobnosti_rezonansnogo_rassledovanija"},{"credibility":2,"name":"WhiteBIT Freezes Over $150M: How the Exchange is Fighting Crypto Crime — GlobeNewswire","type":"news_article","url":"https://www.globenewswire.com/news-release/2025/02/13/3025804/0/en/WhiteBIT-Freezes-Over-150M-How-the-Exchange-is-Fighting-Crime.html"},{"credibility":3,"name":"Risk Alert: Client Reports Issues with WhiteBIT — BrokersView / FastBull","type":"community_report","url":"https://www.fastbull.com/brokersview/news/risk-alert-client-reports-issues-with-crypto-exchange-whitebit-247642"}]},{"content":"In October 2025, Ukraine's Main Investigative Department of the National Police reportedly opened an investigation into alleged money laundering involving WhiteBIT, financial company Liberty Finance, and LLC KIT Group. Investigators alleged that crypto wallets in the KIT Group network were linked to trading terminals on WhiteBIT's platform, and that drug cartel assets passed through WhiteBIT with KIT Group as intermediary. The ultimate beneficiary of KIT Group is identified as Kharkiv resident Anton Tkachenko. WhiteBIT responded that transfers were made by a third-party service using WhiteBIT's blockchain infrastructure, and that WhiteBIT severed ties with this service in early 2022 for failing to meet compliance standards. WhiteBIT stated it cooperates with blockchain analytics providers and law enforcement agencies. No formal charges or convictions related to WhiteBIT itself had been publicly confirmed as of the investigation date.","heading":"Alleged Drug Cartel Money Laundering (Ukrainian Law Enforcement Investigation)","severity":"critical","sources":[{"credibility":2,"name":"Drug cartel, crypto and shadow exchange offices: WhiteBIT, Liberty Finance and KIT Group suspected of financing drug trade — ANTIKOR portal","type":"news_article","url":"https://antikor.info/en/articles/825464-narkokartelj_kripta_i_tenevye_obmenniki_whitebit_liberti_finans_i_kit_grupp_pod_podozreniem_v_finansirovanii_narkobiznesa"},{"credibility":2,"name":"Crypto laundromat for a drug cartel: KIT Group, Liberty Finance, and WhiteBIT — Media Hub (crime.hab.media)","type":"news_article","url":"https://crime.hab.media/232995-crypto_laundromat_for_a_drug_cartel_how_anton_tkachenkoc_kit_group_liberty_finance_and_the_whitebit_exchange_of_volodymyr_nosov_and_nikita_shentsev_appeared_in_a_drug_money_laundering_scheme"}]},{"content":"Investigative reporting, primarily by Crypto Intelligence UK and sourced to Ukrainian outlets, alleges that Coddan Nominee — a co-founder of the UK-registered entity WhiteBIT Solutions LLP — transferred approximately 1.5 million euros to individuals connected to the alleged 2016 coup attempt in Montenegro. Bellingcat and The Insider verified that Russian GRU officers Eduard Shishmakov and Vladimir Moiseev were involved in that coup attempt. The allegation is that Coddan Nominee, which later appeared among WhiteBIT's founding corporate structure, had previously funded the Montenegro plot. Additionally, reporting in early 2023 claimed approximately $12 million in Bitcoin traced to BTC-e — the Russian exchange whose founder Aleksandr Vinnik was convicted of laundering $4 billion and extradited to the US in 2022 — was transferred to WhiteBIT. These allegations depend on corporate registry linkages and on-chain tracing reported by secondary outlets; they have not been adjudicated in any court or confirmed by Tier 1 sources as of this investigation.","heading":"Alleged Connections to Montenegro Coup Financing and Russian Intelligence","severity":"high","sources":[{"credibility":2,"name":"Is WhiteBIT helping Russia evade sanctions and launder money? — Crypto Intelligence","type":"news_article","url":"https://www.cryptointelligence.co.uk/is-whitebit-helping-russia-evade-sanctions-and-launder-money/"},{"credibility":2,"name":"Involvement of WhiteBIT in coup d'état likely to be investigated by Montenegro Special State Prosecutor — ANTIKOR portal","type":"news_article","url":"https://antikor.info/en/articles/637635-prichastnostj_whitebit_k_gosperevorotu_pohohe_budet_rassledovatj_spetsialjnaja_gosprokuratura_chernogorii"},{"credibility":2,"name":"Why materials connecting WhiteBIT to Russian special services are disappearing — ANTIKOR portal","type":"news_article","url":"https://antikor.info/en/articles/630428-pochemu_materialy_o_tom_chto_kriptobirha_whitebit_svjazana_s_rossijskimi_spetssluhbami_ischezajut_iz_interneta"}]},{"content":"In January 2026, Russia's Prosecutor General's Office designated WhiteBIT and parent company W Group as 'undesirable organizations,' effectively banning the exchange from operating in Russia. The stated rationale was WhiteBIT's financial and technical support for Ukraine-linked initiatives, including fundraising for the Armed Forces of Ukraine and providing infrastructure for United24, a crypto fundraising platform launched by Ukrainian President Volodymyr Zelenskyy. WhiteBIT stated it had donated over $11 million to support the Ukrainian army and civilian population, and that its Whitepay payment processing service had facilitated over $160 million in crypto donations. WhiteBIT noted it had already banned Russian users from its platform in 2022 and had no active business there. The designation is significant because it contradicts allegations of WhiteBIT serving as a conduit for Russian money — though critics noted Russia's banning of a platform does not preclude prior facilitation of illicit flows.","heading":"Russia's 'Undesirable Organization' Designation","severity":"medium","sources":[{"credibility":1,"name":"Russia labels crypto exchange WhiteBIT as 'undesirable' — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/01/26/crypto-exchange-whitebit-flagged-by-russia-as-undesirable-over-support-for-ukraine-military"},{"credibility":1,"name":"Russia Bans WhiteBIT, Deeming Crypto Exchange 'Undesirable' Over Ukraine Support — Yahoo Finance / Reuters wire","type":"news_article","url":"https://finance.yahoo.com/news/russia-bans-whitebit-deeming-crypto-224102212.html"},{"credibility":2,"name":"Russia bans 'undesirable' WhiteBIT four years after WhiteBIT bans Russia — Protos","type":"news_article","url":"https://protos.com/russia-bans-undesirable-whitebit-four-years-after-whitebit-bans-russia/"}]},{"content":"WhiteBIT has pursued notable third-party security certifications. In late 2024, it became the first centralized exchange to achieve CCSS (Cryptocurrency Security Standard) Level 3 certification, the highest tier, following a 2.5-month audit by Hacken that included penetration tests, wallet inspections, staff interviews, and review of over 100 policy artifacts. The exchange claims 96% of user assets are stored in multi-signature cold wallets. WhiteBIT holds an AAA rating on CER.live and achieved a reported 100/100 cybersecurity score on that platform in 2024. A Hacken proof-of-reserves audit dated November 18, 2024 reported a total collateral ratio of 238%, with BTC coverage at 507%, ETH at 269%, USDT at 108%, USDC at 205%, SOL at 101%, and WBT at 100%. These figures are based on a point-in-time snapshot covering more than 90% of total reserves and liabilities. WhiteBIT does not offer continuous live proof-of-reserves disclosure. The exchange also claims to have frozen over $150 million in illicitly obtained crypto assets since 2022, cooperating with the FBI on at least one traced asset recovery.","heading":"Security Credentials and Proof of Reserves","severity":"low","sources":[{"credibility":2,"name":"WhiteBIT CCSS Sets New Standard for Crypto Exchanges — Hacken","type":"research","url":"https://hacken.io/case-studies/whitebit-ccss/"},{"credibility":2,"name":"WhiteBIT Achieves Highest Security Standards with CCSS Certification — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2024/12/11/whitebit-achieves-highest-security-standards-with-ccss-certification/"},{"credibility":2,"name":"WhiteBIT Safeguards Over $150M: How the Exchange is Fighting Crypto Crime — Decrypt","type":"news_article","url":"https://decrypt.co/306034/whitebit-safeguards-over-150m-how-the-exchange-is-fighting-crypto-crime"},{"credibility":2,"name":"WhiteBIT Exchange Review: Fees, Proof of Reserves — MEXC News","type":"research","url":"https://www.mexc.co/news/1027465"}]},{"content":"WhiteBIT operates under a VASP (Virtual Asset Service Provider) registration in Lithuania, which served as the EU-compliant framework prior to MiCA's CASP regime taking effect in Lithuania on January 1, 2026. The exchange also claims VASP authorizations in multiple other jurisdictions. A 2024 complaint reported by BrokersView alleged that WhiteBIT lacked registration with De Nederlandsche Bank (DNB) and was not compliant with the VASP framework in the Netherlands, leaving Dutch clients without regulatory protection. WhiteBIT has not been subject to any published SEC, CFTC, or DOJ enforcement action as of this investigation date. The exchange previously excluded US residents from its platform; its December 2025 US launch was structured through a dedicated US-facing entity with stated commitments to KYC and AML compliance. Ukraine's National Bank and Ministry of Digital Transformation have been separately alleged by ANTIKOR to act as 'lobbyists' for WhiteBIT, ignoring compliance violations; this claim has no corroboration from regulatory filings or Tier 1 sources.","heading":"Regulatory Status and Licensing","severity":"medium","sources":[{"credibility":3,"name":"Risk Alert: Client Reports Issues with WhiteBIT (VASP/DNB complaint) — BrokersView / FastBull","type":"community_report","url":"https://www.fastbull.com/brokersview/news/risk-alert-client-reports-issues-with-crypto-exchange-whitebit-247642"},{"credibility":2,"name":"WhiteBIT Plans US Launch with WBT Token Amid Regulatory Easing — MEXC News","type":"news_article","url":"https://www.mexc.com/news/212786"},{"credibility":2,"name":"WhiteBIT Review 2026: Fees, Security and Whitechain Ecosystem — CEX.IO University","type":"research","url":"https://university.cex.io/whitebit-review/"}]},{"content":"Multiple review platforms contain user complaints against WhiteBIT. Common reported issues include account freezes with prolonged KYC re-verification demands, delays or refusals of withdrawals, and inadequate customer support responses. A representative complaint detailed by BrokersView involved a client attempting to withdraw 11,888 euros — below WhiteBIT's stated verification threshold of 12,977.50 euros — who faced repeated escalating KYC demands despite having completed initial verification. WhiteBIT's Trustpilot and Sitejabber profiles contain mixed reviews. These complaints are individually unverified user accounts (Tier 3) and may reflect both legitimate compliance procedures and genuine operational failures. No pattern of withdrawal refusals has been confirmed by a regulatory body as of this investigation date.","heading":"User Complaints and Withdrawal Issues","severity":"medium","sources":[{"credibility":3,"name":"WhiteBIT Reviews — Trustpilot","type":"community_report","url":"https://www.trustpilot.com/review/whitebit.com"},{"credibility":3,"name":"I was scammed by whitebit platform — BrokersView complaint","type":"community_report","url":"https://www.fastbull.com/brokersview/complaint/i-was-scammed-by-whitebit-platform-1170"},{"credibility":3,"name":"WhiteBIT Reviews — Sitejabber","type":"community_report","url":"https://www.sitejabber.com/reviews/whitebit.com"}]}],"sources_used":[{"credibility":2,"name":"WhiteBIT Official Statement — WhiteBIT Blog","type":"official","url":"https://blog.whitebit.com/en/official-statement-by-whitebit/"},{"credibility":2,"name":"Token Spotlight: What is WhiteBIT Coin (WBT)? — Kraken Blog","type":"research","url":"https://blog.kraken.com/token-spotlight/what-is-whitebit-coin-wbt"},{"credibility":1,"name":"Russia labels crypto exchange WhiteBIT as 'undesirable' — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/01/26/crypto-exchange-whitebit-flagged-by-russia-as-undesirable-over-support-for-ukraine-military"},{"credibility":1,"name":"Russia Bans WhiteBIT Over Ukraine Support — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/russia-bans-whitebit-deeming-crypto-224102212.html"},{"credibility":1,"name":"WhiteBIT Coin WBT Added to Five S&P Cryptocurrency Indices — PR Newswire","type":"news_article","url":"https://www.prnewswire.com/news-releases/whitebits-native-coin-wbt-added-to-five-sp-cryptocurrency-indices-302632954.html"},{"credibility":2,"name":"S&P Adds WhiteBIT's Native Coin to Five Key Cryptocurrency Indices — Invezz","type":"news_article","url":"https://invezz.com/news/2025/12/04/sp-adds-whitebits-native-coin-to-five-key-cryptocurrency-indices/"},{"credibility":2,"name":"WhiteBIT Coin Gains Momentum After Kraken Listing — CoinCodex","type":"news_article","url":"https://coincodex.com/article/82666/whitebit-coin-gains-momentum-after-kraken-listing-as-token-climbs-to-top-11-by-market-cap/"},{"credibility":2,"name":"$2.7 billion in 'dirty' dollars: Who is behind WhiteBIT — InView.org.uk","type":"news_article","url":"https://inview.org.uk/news/180856-2.7_billion_in_dirty_dollarc_who_is_behind_the_whitebit_crypto_exchange_and_its_frauds"},{"credibility":2,"name":"WhiteBIT under scrutiny: sanctions, offshore operations — ANTIKOR portal","type":"news_article","url":"https://antikor.info/en/articles/803239-whitebit_pod_pritselom_kak_ukrainskaja_kriptobirha_s_prorossijskim_proshlym_obhodit_sanktsii_operiruet_milliardami_v_ofshorah_i_ne_podpadaet_pod_kontr"},{"credibility":2,"name":"Is WhiteBIT helping Russia evade sanctions? — Crypto Intelligence UK","type":"news_article","url":"https://www.cryptointelligence.co.uk/is-whitebit-helping-russia-evade-sanctions-and-launder-money/"},{"credibility":3,"name":"Open Questions to WhiteBIT regarding $2.7B theft — 4-Dragons.com","type":"community_report","url":"https://4-dragons.com/open-questions-to-whitebit-regarding-the-theft-and-laundering-of-over-usd-2.7-billion"},{"credibility":2,"name":"Drug cartel money laundering: WhiteBIT, KIT Group, Liberty Finance — ANTIKOR portal","type":"news_article","url":"https://antikor.info/en/articles/825464-narkokartelj_kripta_i_tenevye_obmenniki_whitebit_liberti_finans_i_kit_grupp_pod_podozreniem_v_finansirovanii_narkobiznesa"},{"credibility":2,"name":"Crypto laundromat for a drug cartel — Media Hub (crime.hab.media)","type":"news_article","url":"https://crime.hab.media/232995-crypto_laundromat_for_a_drug_cartel_how_anton_tkachenkoc_kit_group_liberty_finance_and_the_whitebit_exchange_of_volodymyr_nosov_and_nikita_shentsev_appeared_in_a_drug_money_laundering_scheme"},{"credibility":2,"name":"Shentsev family scrubs internet investigations — Rozsliduvach.info","type":"news_article","url":"https://rozsliduvach.info/news/247907-after_the_expocure_of_a_russian_trace_in_the_whitebit_crypto_exchange_former_party_of_regions_figures_dmytro_and_mykyta_shentsev_began_scrubbing_the_i"},{"credibility":2,"name":"WhiteBIT CCSS Level 3 Certification — Hacken Case Study","type":"research","url":"https://hacken.io/case-studies/whitebit-ccss/"},{"credibility":2,"name":"WhiteBIT Safeguards Over $150M — Decrypt","type":"news_article","url":"https://decrypt.co/306034/whitebit-safeguards-over-150m-how-the-exchange-is-fighting-crypto-crime"},{"credibility":2,"name":"Russia bans WhiteBIT four years after WhiteBIT bans Russia — Protos","type":"news_article","url":"https://protos.com/russia-bans-undesirable-whitebit-four-years-after-whitebit-bans-russia/"},{"credibility":2,"name":"WhiteBIT CEO Interview — LIGA.net","type":"news_article","url":"https://finance.liga.net/en/cryptoeconomics/interview/i-see-growth-areas-where-everything-seems-stable--an-interview-with-the-ceo-of-the-whitebit-crypto-exchange"},{"credibility":2,"name":"WhiteBIT Statistics — CoinGecko","type":"research","url":"https://www.coingecko.com/en/exchanges/whitebit"},{"credibility":2,"name":"WBT Price Today — CoinMarketCap","type":"research","url":"https://coinmarketcap.com/currencies/whitebit-token/"},{"credibility":2,"name":"WhiteBIT Exchange Review — CEX.IO University","type":"research","url":"https://university.cex.io/whitebit-review/"},{"credibility":2,"name":"Gate to Delist WhiteBIT Token (WBT) — Gate.com","type":"official","url":"https://www.gate.com/announcements/article/42432"},{"credibility":2,"name":"WhiteBIT Coin (WBT) Surpasses $15 Billion Market Cap — Coinpedia","type":"news_article","url":"https://coinpedia.org/information/whitebit-coin-wbt-surpasses-15-billion-market-capitalization/"},{"credibility":2,"name":"WhiteBIT CEO Appointed Honorary Consul — The Diplomat in Spain","type":"news_article","url":"https://thediplomatinspain.com/en/2024/11/27/inaugurado-el-consulado-honorario-de-ucrania-en-palma-de-mallorca/"}],"summary":"WhiteBIT Coin (WBT) is the native token of WhiteBIT, a cryptocurrency exchange founded in 2018 and headquartered in Lithuania, claiming to be Europe's largest CEX by traffic. As of May 2026, WBT ranks approximately 11th by market capitalization at around $12.6 billion with a maximum supply of 400 million tokens. The exchange and its token face serious, ongoing allegations including disputed ownership linked to pro-Russian political figures, money laundering claims from multiple jurisdictions, and a Ukrainian law enforcement investigation into alleged drug cartel fund flows, all of which WhiteBIT formally denies.","timeline":[{"date":"2018-01-01","event":"WhiteBIT exchange founded by Volodymyr Nosov in Ukraine.","source":"WhiteBIT Blog / LIGA.net Interview","source_url":"https://finance.liga.net/en/cryptoeconomics/interview/i-see-growth-areas-where-everything-seems-stable--an-interview-with-the-ceo-of-the-whitebit-crypto-exchange"},{"date":"2022-02-01","event":"WhiteBIT bans Russian users from the platform following Russia's invasion of Ukraine.","source":"Protos","source_url":"https://protos.com/russia-bans-undesirable-whitebit-four-years-after-whitebit-bans-russia/"},{"date":"2022-08-01","event":"WBT token launched via IEO on WhiteBIT Launchpad at $1.62 private sale price.","source":"Kraken Blog Token Spotlight","source_url":"https://blog.kraken.com/token-spotlight/what-is-whitebit-coin-wbt"},{"date":"2022-01-01","event":"WhiteBIT severs ties with KIT Group service following alleged compliance failures, per WhiteBIT's own account.","source":"Media Hub (crime.hab.media)","source_url":"https://crime.hab.media/232995-crypto_laundromat_for_a_drug_cartel_how_anton_tkachenkoc_kit_group_liberty_finance_and_the_whitebit_exchange_of_volodymyr_nosov_and_nikita_shentsev_appeared_in_a_drug_money_laundering_scheme"},{"date":"2022-01-01","event":"WhiteBIT relocates headquarters from Ukraine to Lithuania.","source":"PANews","source_url":"https://www.panewslab.com/en/articles/rqn0aaqr"},{"date":"2023-03-01","event":"Approximately $12 million in Bitcoin associated with BTC-e (whose founder Vinnik was convicted of $4B money laundering) allegedly transferred to WhiteBIT, per Russian IT journalists.","source":"Crypto Intelligence UK","source_url":"https://www.cryptointelligence.co.uk/is-whitebit-helping-russia-evade-sanctions-and-launder-money/"},{"date":"2023-08-01","event":"Whitechain Layer 1 blockchain (formerly WB Network) launches with WBT as gas token.","source":"Whitechain Documentation","source_url":"https://docs.whitechain.io/"},{"date":"2023-01-01","event":"Dmytro Shentsev stripped of Ukrainian citizenship by presidential decree.","source":"ANTIKOR portal","source_url":"https://antikor.info/en/articles/803239-whitebit_pod_pritselom_kak_ukrainskaja_kriptobirha_s_prorossijskim_proshlym_obhodit_sanktsii_operiruet_milliardami_v_ofshorah_i_ne_podpadaet_pod_kontr"},{"date":"2024-01-01","event":"Four Dragons (Kyrgyz exchange) hacked; over $841,000 in crypto alleged to have been routed through WhiteBIT. Three criminal cases opened in Kyrgyz Republic.","source":"4-Dragons.com / InView.org.uk","source_url":"https://4-dragons.com/open-questions-to-whitebit-regarding-the-theft-and-laundering-of-over-usd-2.7-billion"},{"date":"2024-11-18","event":"Hacken proof-of-reserves audit reports WhiteBIT total collateral ratio of 238%.","source":"MEXC News exchange review","source_url":"https://www.mexc.co/news/1027465"},{"date":"2024-11-24","event":"WhiteBIT returns frozen funds to Four Dragons' rightful owners.","source":"WhiteBIT Official Statement","source_url":"https://blog.whitebit.com/en/official-statement-by-whitebit/"},{"date":"2024-11-01","event":"Volodymyr Nosov appointed Honorary Consul of Ukraine in the Balearic Islands (Palma de Mallorca).","source":"GNcrypto News","source_url":"https://www.gncrypto.news/news/whitebit-ceo-named-ukraines-honorary-consul-in-spain/"},{"date":"2024-12-11","event":"WhiteBIT becomes first exchange to achieve CCSS Level 3 certification via Hacken audit.","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2024/12/11/whitebit-achieves-highest-security-standards-with-ccss-certification/"},{"date":"2025-01-08","event":"Gate.io announces delisting of WBT token.","source":"Gate.com Announcements","source_url":"https://www.gate.com/announcements/article/42432"},{"date":"2025-10-01","event":"Ukraine's Main Investigative Department of the National Police opens investigation into alleged drug cartel money laundering involving WhiteBIT, Liberty Finance, and KIT Group.","source":"ANTIKOR portal","source_url":"https://antikor.info/en/articles/825464-narkokartelj_kripta_i_tenevye_obmenniki_whitebit_liberti_finans_i_kit_grupp_pod_podozreniem_v_finansirovanii_narkobiznesa"},{"date":"2025-11-18","event":"WBT reaches all-time high of approximately $64.11.","source":"CoinCodex","source_url":"https://coincodex.com/article/82666/whitebit-coin-gains-momentum-after-kraken-listing-as-token-climbs-to-top-11-by-market-cap/"},{"date":"2025-12-01","event":"WhiteBIT officially announces US market entry with a dedicated US entity and Times Square marketing campaign.","source":"Scroll.media","source_url":"https://scroll.media/en/2025/12/01/whitebit-enters-us-market/"},{"date":"2025-12-04","event":"S&P Dow Jones Indices adds WBT to five cryptocurrency indices including the Broad Digital Market Index.","source":"PR Newswire","source_url":"https://www.prnewswire.com/news-releases/whitebits-native-coin-wbt-added-to-five-sp-cryptocurrency-indices-302632954.html"},{"date":"2026-01-26","event":"Russia's Prosecutor General's Office designates WhiteBIT and W Group as 'undesirable organizations' over support for Ukraine's military.","source":"CoinDesk","source_url":"https://www.coindesk.com/policy/2026/01/26/crypto-exchange-whitebit-flagged-by-russia-as-undesirable-over-support-for-ukraine-military"},{"date":"2026-03-05","event":"WBT begins trading on Kraken exchange with WBT/EUR and WBT/USD pairs.","source":"Chainwire / CryptoPatato","source_url":"https://chainwire.org/2026/03/05/whitebit-coin-wbt-officially-listed-on-kraken-exchange-highlighting-its-growing-recognition/"}]},"v":1}