Ukraine’s Crypto Donation Efforts Hit $20 Million: Report

Ukraine’s crypto donation efforts hit $20 million according to the data from blockchain analytics platform Elliptic that we read more about in our latest cryptocurrency news today.

Ukraine’s crypto donation efforts hit $20 million following Russia’s invasion on Thursday, according to the latest data from Elliptic:

“The Ukrainian government, and NGOs providing support to the military, have raised $20 million through thousands of cryptocurrency donations since the start of the invasion.”

https://twitter.com/Ukraine/status/1497594592438497282

The report added that one NGO even received a single BTC donation worth $3 million. The Ukrainian government’s official Twitter account announced that now the government started accepting crypto donations and shared bitcoin and Ethereum wallet addresses. According to the blockchain records, those two addresses received $4.6 and $5.6 million respectively. The shortfall however came from an additional $3 million sent to a TRON address to the NGO Come Back Alive that raised $7.2 million to date. Crytpo donations to Ukraine are flooding in from all around the world including from decentralzied autonomous organizations.

UkraineDAO for example was established to raise funds for Ukraine which was announced by Nadya Tolokonnikova who is the founding member of the conceptual protest art group Pussy Riot:

“Our goal is to raise funds to donate to Ukrainian civilian organizations who help those suffering from the war that Putin started in Ukraine.”

Additional sources of donated income include a fundraiser dubbed Support Ukrainian Sovereignty which claims to have raised $280,000 to date and according to Elliptic, the group recieved funds from a separate ETH token proejct dubbed Help Ukraine. Despite the fundraising platforms being used to send funds to Ukraine, Elliptic warned against scammers which were taking advantage of the current situation:

“Elliptic has identified a number of fraudulent crypto fundraising scams, exploiting the current situation.”

Stand with the people of Ukraine
Now accepting cryptocurrency donations. Ethereum. Bitcoin and Tether (USDTtrc20)

BTC — 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P

ETH — 0x165CD37b4C644C2921454429E7F9358d18A45e14

USDT (trc20) — TEFccmfQ38cZS1DTZVhsxKVDckA8Y6VfCy

— Mykhailo Fedorov (@FedorovMykhailo) February 26, 2022

Within the first week of the Russia-Ukraine war, the government of Ukraine reached out to the crypto community on social media to start asking for crypto donations to support its civilians and troops. Now, Ukraine accepts USDT, ETH, and Bitcoin donations. As Russia threatens to take over Ukraine’s capital city of Kyiv, the government of Ukraine asked for help from multiple international organizations to overpower the threat. However, considering time is the essence, the official Twitter account for Ukraine extended the call on Crypto Twitter.