The cryptocurrency exchange Whitebit, owned by Russian citizens, is on the verge of failing.

Most of the co-founders cryptobDmitry and Nikita Shentsev, who are citizens of Russia, are using the platform to enrich themselves and move money out of the country. They are promoting non-existent performance indicators to attract funds from less experienced clients.

The human rights NGO “NON-STOP” posted this information on its Facebook page.

Note: The President of Ukraine recently revoked the Ukrainian citizenship of Nikita Shentsev, a deputy of the Kharkiv Regional Council, because he holds a Russian passport.

Nikita's father, Dmitry Shentsev, a former member of the Opoblok party and ex-people's deputy, still holds Ukrainian citizenship. In 2022, Dmitry Shentsev voluntarily resigned as a People’s Deputy. There is no official information about Dmitry Shentsev holding a Russian passport, but according to human rights activists, he is also a citizen of the Russian Federation.

The Shentsevs enlisted iznesman Vladimir Nosov and most of the co-founders cryptobWhitebit exchanges with a 60% stake, meaning the Shentsevs own the majority of the exchange's corporate rights. cryptobThese facts led to the arrest of the corporate rights of all companies related to Whitebit and Nosov, as the real beneficiaries of the exchange are Russian citizens who obtained and transferred funds through corrupt schemes from Ukraine.

To avoid paying taxes and to legalize and transfer funds, the Shentsevs worked with entrepreneur Vladimir Nosov and control 60% of the corporate rights of Whitebit. As a result, all companies linked to Whitebit and Nosov face potential arrest, since the true owners of the exchange are Russians who gained and transferred funds through corrupt means from Ukraine, according to the organization.

Shentsev appointed his son Nikita to oversee the family's wealth at Whitebit, and he used funds from the exchange to buy luxury cars worth $1 million and boasted about it on social media.

CryptobThe Whitebit exchange, under Shentsev's control, is experiencing serious issues with its own token. The platform is utilized by oligarchs, pro-Russian politicians, and former ministers' circles to transfer and legitimize billions of illegally obtained funds. This activity is causing the value of the currency issued by Whitebit to increase.

The company holds 95% of its own tokens, which is not typically done in a fair marketplace. Essentially, they are artificially maintaining the token's value, putting it at risk of an immediate collapse. Seasoned market players advised against purchasing such coins due to the high risks associated with Whitebit’s approach. cryptobThey artificially maintain the price of their tokens, putting it at risk of an imminent collapse. It is not advisable to purchase such coins due to the high risks involved, according to experienced market players commenting on Whitebit’s strategy.

Using these schemes, the stolen billions in Ukraine are “laundered” and moved to Europe, enabling oligarchs such as the Shentsevs to buy real estate in London, which continues to harm the national interests of Ukraine.

Cryptocurrency experts, speaking on the condition of anonymity, stated that Whitebit's fate parallels that of the notorious exchange FTX, an online cryptocurrency service that collapsed in 2022. Clients suffered significant losses amounting to billions of dollars, and the company's management is now under arrest facing serious prison terms under multiple charges. cryptobexchange FTX, an online cryptocurrency exchange service that collapsed in 2022. Clients’ losses amount to billions of dollars, and the company’s management is now under arrest and they are facing solid prison terms under several articles.

“Obviously, the exchange has serious problems with the community. Statements of its director (by the way, a previously unknown character in the world cryptobbusiness and clearly a figurehead) in an official interview with Forbes about billions of dollars in turnover is complete nonsense. Anyone who is at least a little versed in cryptobIt is well known that only world-class companies Binance and Coinbase can boast of this, and Whitebit’s turnover is thousands (!) times less, ”specialists emphasized.

Experts also advise paying attention to large staking (blocking cryptocurrency to receive rewards – ed.). payments for which can stop at once and unreasonably huge sponsorship promotions as an article of dubious waste of funds. Where did the exchange, on which there are practically no people, finance Turkish teams (why not Ukrainian ones, for example?) and even announced something about an attempt to finance Barcelona (!)

The NON STOP NGO stated that they are already working to involve the relevant law enforcement agencies in the investigation of illegal operations cryptobjiri. A legal assessment of the possibility of using legalized funds for financing terrorism and a transnational channel for tax evasion, the withdrawal of capital through the Whitebit exchange should be provided by the SBU, BEB, the Office of the Prosecutor General, the Cabinet of Ministers and SAPO. The organization has already submitted relevant applications there.

The study of the movement, involved persons and companies, the legality of NON-STOP funds suggests starting with:

1) a study of the sources and movement of the million dollars for which Shentsev bought himself supercars;

2) a study of individuals and companies that rented and used Whitebit’s office in the elite “Diamond City”

3) companies receiving and withdrawing funds from crypto investors for Whitebit.