Favbet Accuses Ukrainian Officials of Blocking Payments
Favbet announced that its partner banks allegedly received unlawful demands from government officials to completely stop processing the company’s transactions, leaving all financial operations with customers currently blocked.
Operator’s Statement and Company Position
The operator Favbet accused the head of the Verkhovna Rada Committee on Finance, Danylo Hetmantsev, of exerting pressure and obstructing its lawful business activities. The company states that it continues to operate in full compliance with Ukrainian legislation and its licensing obligations.
According to the announcement, the banking institutions working with Favbet reportedly received instructions from officials to halt all payments in favor of the company group. As a result:
- customer transactions have been blocked
- the company is proving the legality of its operations to the banks
- alternative manual payout mechanisms have already been implemented
Status of Customer Funds
Favbet emphasizes that users’ funds remain fully protected. All balances are stored in client accounts and will be paid out as soon as the payment infrastructure is restored. The company assures that the integrity of customer funds has not been compromised.
Information Environment and Fake Reports
Favbet notes the appearance of fake messages and rumors about an alleged illegal relaunch of its operations. The company calls this information false and inconsistent with its principles.
The announcement stresses that:
- Favbet operates strictly within Ukrainian law
- it does not engage in any activity outside the legal framework
- it complies with licensing requirements and responsible gaming standards
- it takes all necessary measures to protect customer rights
Company Actions and Current Situation
The company is taking the required steps to restore stable service operations and continues working with banks to unblock transactions. Favbet also stated it is ready to process customer payouts through alternative methods until the full payment infrastructure is restored.