Official Statement by WhiteBIT

Recently, WhiteBIT has become the target of a coordinated information attack aimed at discrediting our company and creating panic among our users. This campaign spreads false information, manipulations, and baseless accusations with the sole intention of generating FUD (fear, uncertainty, and doubt) within the crypto community.

We have always adhered to principles of transparency and compliance with international standards. Therefore, we are ready to provide an official explanation regarding the current situation.

1. All our customers’ data is safe

We can confidently assure that no user data from WhiteBIT has been breached.

WhiteBIT is one of the safest cryptocurrency exchanges in the world, having been the first to achieve the highest level of Cryptocurrency Security Standard (CCSS) certification. To this day, WhiteBIT has not experienced any hacking incidents, further proving our reputation and the advanced level of our cybersecurity.

The information currently circulating online is fabricated. Lists of wallets shared across the internet can easily be generated or exported using tools such as Chainalysis, which are accessible to any authorized user. No personal information or client balances from WhiteBIT have been leaked to third parties.

Your funds remain completely secure, and our systems continue to operate as usual.

2. WhiteBIT Operates in Full Compliance with International Standards

WhiteBIT is a cryptocurrency exchange that operates transparently and strictly adheres to international rules and regulations. We fully comply with regulatory requirements, including those outlined by MiCA, and regularly undergo audits conducted by authorized institutions.

Our platform enforces a mandatory KYC (Know Your Customer) process, and all transactions are subjected to rigorous AML (Anti-Money Laundering) checks. Additionally, we actively cooperate with law enforcement agencies worldwide to assist in the investigation of illicit activities.

By the law, we are imposed to safeguard the assets and privacy information of our users. The data that we collect from users is needed to ensure user protection in case of misconduct issues from government authorities.

3. How It Began: The Situation in Kyrgyzstan

In early 2024, the Kyrgyz cryptocurrency exchange Four Dragons was hacked, resulting in the theft of over $841,000 in crypto assets. A portion of these funds was transferred to several major exchanges, including WhiteBIT.

WhiteBIT was the only exchange to promptly respond to Four Dragons’ request and initiate measures to trace the stolen funds. Thanks to the coordinated efforts of our team and the AML department, we managed to freeze $46,450 of the stolen assets and mark suspicious wallet addresses to prevent further transactions. These funds were subsequently returned to the rightful owners on November 24, 2024, with full transparency (transaction hash: https://tronscan.org/#/transaction/c46d45749b89accf9155a7055943beebcee341f1cffcbd09e96dc9bb34453329)

Despite our efforts, the owners of Four Dragons involved the Kyrgyz Ministry of Internal Affairs and, in an attempt to expedite the case closure, demanded that WhiteBIT compensate the entire amount of stolen funds, including those not transferred to our platform.

We made it clear that:

WhiteBIT is only responsible for funds located on our platform.
The exchange is not a financial intermediary that can reimburse damages caused by third parties.
We have done everything possible to assist in the investigation.

Unfortunately, investigators and the owners of Four Dragons began to pressure us, threatening a media attack if we refused to meet their illegitimate demands. WhiteBIT does not negotiate with blackmailers. Following our refusal, the media attack was launched. In response, we filed official statements and inquiries with Kyrgyz law enforcement agencies to address the situation, which further intensified the media pressure on WhiteBIT.

4. Coordinated Media Attack

The media campaign against WhiteBIT began in anonymous Russian Telegram channels, spreading false claims, including:

“A client data leak” — This is completely untrue. The sample presented as “proof” of a data leak is nothing more than a standard extract from Chainalysis, which represents publicly available blockchain data. Essentially, anyone with access to such tools can compile this data.
“An Interpol investigation into international money laundering schemes” — Entirely fabricated information. We have been receiving these threats for the past six months. The claims, including the generic emails they referenced and pretended to be from Interpol. The WhiteBIT’s Legal Department interacts with various law enforcement and regulatory authorities in different countries. However, our company has not received any requests from Interpol regarding the matter or any other international organizations and institutions.
“WhiteBIT as a money-laundering platform” — An absurd accusation with no evidence whatsoever. We strictly adhere to all international guidelines and best practices to prevent money laundering (ML) cases. Our compliance procedures are robust and regularly audited.

Additionally, emails were sent, allegedly from a “Kyrgyz Ministry of Internal Affairs investigator,” using the email address (i.dogdurbekov@cp.mvd.gov.kg). While we cannot confirm whether this email is entirely fake or being misused for personal purposes by the investigator, it has been employed to exert pressure on us and disseminate misinformation.

5. WhiteBIT’s Incredible Achievements in 2024

Despite the ongoing media campaign, WhiteBIT’s reputation and achievements speak for themselves:

In 2024, WhiteBIT achieved a trading volume of $2.7 trillion.
We became one of the Top 2 cryptocurrency exchanges worldwide in terms of traffic.
Our coin, WhiteBIT Coin (WBT), rose to a price of $26.
The number of our clients increased significantly, with institutional clients exceeding 1,300.

We understand that such success not only attracts clients and partners but also those who attempt to profit from or discredit our achievements.