For centralized exchanges operating at scale, compliance is no longer just about satisfying regulators, but actively defending the digital economy.
WhiteBIT, Europe’s largest crypto exchange by traffic, has built a reputation for placing compliance at the core of its business. Through a combination of blockchain analytics, open-source intelligence (OSINT), and active collaboration with law enforcement, WhiteBIT has developed a crime prevention strategy that is proactive, multi-layered, and aligned with evolving international standards.
We caught up with the WhiteBIT Compliance team to understand how Crystal has changed the way they work.
From reactive to proactive: building a security-first compliance framework
Before 2019, WhiteBIT operated without a dedicated blockchain analytics solution. The compliance team recalls a time when there was no formal way to evaluate transaction risk or trigger enhanced due diligence (EDD). Recognizing this gap, WhiteBIT took strategic action to formalize and scale its compliance operations.
Their partnership with Crystal Intelligence in 2019 was part of this evolution. Crystal’s tools for transaction linkage, address clustering, and risk profiling added crucial visibility that now complements WhiteBIT’s internal monitoring and investigative processes. While Crystal is just one of several tools in WhiteBIT’s stack, its analytics have become a valuable part of their broader enforcement infrastructure.
Behind the scenes: a layered compliance strategy
WhiteBIT’s compliance model is deeply embedded in its operations. Their responsibilities span all key areas of regulatory enforcement. This includes identity verification, transaction monitoring, data protection, licensing, audit preparedness, and direct cooperation with global law enforcement agencies.
They continually monitor legal developments across jurisdictions, ensuring readiness for frameworks like MiCA. This level of vigilance enables WhiteBIT to expand into new markets while staying ahead of regulatory expectations.
Their approach extends beyond box-checking: they combine custom-built monitoring systems with manual investigations, and leverage OSINT techniques to uncover, assess, and respond to threats in real time.
Turning intelligence into action
WhiteBIT’s dedication to compliance is not theoretical, it’s demonstrated in their day-to-day operations. In 2024 alone, the compliance team successfully protected over $150 million in at-risk cryptocurrency, acting swiftly in high-stakes situations to prevent losses and support law enforcement efforts.
These actions included identifying suspicious activity involving high-profile assets, freezing funds in response to the Coinspaid breach, and blocking a large volume of USDC during the TAO Holder scam flagged by ZachXBT. Each action highlights WhiteBIT’s ability to coordinate across technical, legal, and enforcement lines under pressure.
These events represent only a portion of their year-long activity. As they note, their efforts underscore a broader mission: safeguarding digital assets and contributing meaningfully to the fight against crypto-related crime.
Why Crystal fits in
WhiteBIT’s tech stack is both robust and diverse and Crystal plays a key supportive role within it. Used primarily for tracing complex transactions and identifying links to entities like DPRK and BTC-e, Crystal enables more precise and efficient investigations when time and accuracy are critical.
Crystal’s integration into WhiteBIT’s operations helps streamline casework and align internal processes with international regulatory standards. According to the team, having reliable blockchain analytics providers is now essential for centralized exchanges:
“Crystal has become an integral part of our compliance framework, enabling us to meet international regulatory standards with greater confidence and efficiency.”
Looking forward: regulation, resilience, and reputation
As global frameworks like MiCA come into force, WhiteBIT stands ready. Their combination of internal diligence, strategic tooling, and law enforcement collaboration positions them as one of the most compliance-forward exchanges in the space.
They see partnerships like the one with Crystal as part of this readiness — helping them remain agile and audit-ready across jurisdictions:
“As regulations evolve, having a trusted partner like Crystal allows us to adapt quickly and maintain full alignment with both existing and incoming legal requirements.”
WhiteBIT’s journey reflects a broader principle: compliance isn’t a constraint on crypto innovation, it’s the infrastructure that makes it sustainable.
