Cryptocurrency donations sent to Ukraine following Russia’s invasion have now exceeded $20 million, according to blockchain analytics platform 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,” Elliptic said on a blog post tracking the donations.
It added that one NGO received a single Bitcoin donation worth $3 million.
Earlier this week, the Ukrainian government’s official Twitter account announced that the government was “now accepting cryptocurrency donations” in a tweet sharing a Bitcoin and Ethereum wallet address.
Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.
BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14
According to blockchain records, those two addresses have received approximately $4.6 and $5.6 million respectively.
The shortfall, Elliptic told Decrypt, has come from an additional $3 million sent to a TRON address, and the Ukrainian NGO Come Back Alive, which has raised $7.2 million to date.
Fundraising for Ukraine
Crypto donations to Ukraine are flooding in from all directions, including a newly established decentralized autonomous organization, or DAO.
UkraineDAO, a DAO established to raise funds for Ukraine, was announced earlier this week by Nadya Tolokonnikova, also known as a 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,” Tolokonnikova tweeted. She also told Decrypt this is “much bigger than all of us, it’s a pure gesture of solidarity.”
Additional sources of donated income include a fundraiser called Support Ukrainian Sovereignty, which claims to have raised over $280,000 to date. Per Elliptic, the group has received funds from a separate Ethereum token project called Help Ukraine ($HUKR).
Despite the legitimate fundraising platforms being used to send funds to Ukraine, Elliptic also warns against scammers that “appear to be taking advantage of the current situation.”
“Elliptic has identified a number of fraudulent crypto fundraising scams, exploiting the current situation,” the blog post adds.
Former SEC attorney John Reed Stark took to social media on Monday with an in-depth forecast of how Sam Bankman-Fried's criminal trial is likely to play out. The...
BackerKit has joined the growing list of platforms prohibiting the use of AI-generated content, announcing on Monday that it would ban campaigns that used generative AI to create...
Could Twitter, also known as X, become Twitch’s next big rival?Twitter owner and former CEO Elon Musk published a livestream of himself playing Blizzard’s role-playing game Diablo IV...
Noted author Michael Lewis was buried under a Crypto Twitter pile-on after he highlighted FTX’s ability to generate cash in an interview with CBS’ 60 Minutes.During the broadcast,...
To telegraph the release of its upcoming collaboration with Adidas Originals, luxury outerwear brand Moncler is unveiling a new campaign entitled “The Art of Explorers.” The campaign pairs...
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy. I Agree