Ukraine has received $13.7 million funds through anonymous Bitcoin donations
Ukraine has received funds through anonymous Bitcoin donations to their war effort. According to Cryptocurrency researchers, at least $13.7 million (£10.2 million) has been given to the Ukrainian military effort via anonymous Bitcoin payments. According to Elliptic, a Blockchain research firm, the Ukrainian government, NGOs, and volunteer organizations raised the funds by publicly displaying their Cryptocurrency wallet addresses online. So far, over 4,000 gifts have been made, with one anonymous contributor donating $3 million in Bitcoin to an NGO. The average donation is $95.
Ukrainian Government's Twitter Account Posted a Statement
On Saturday afternoon, the Ukrainian government's official Twitter account issued the following message: "Join the Ukrainian people in their struggle. Donations in Cryptocurrencies are now accepted. Bitcoin, Ethereum, and USDT are the three most popular Cryptocurrencies." Within eight hours, it disclosed credentials for two Cryptocurrency wallets, which gathered $5.4 million in Bitcoin, Ether, and other currencies. The Ukrainian Cyber Ministry claims the current plea for contributions is to "assist Ukraine's military forces," but does not specify how the funds would be utilized.
Patreon Suspended Donation Page of NGO "Come Back Alive"
Elliptic founder Tom Robinson told: "Whereas certain Crowdfunding and payments platforms have refused to allow donations to organizations backing the Ukrainian military, Cryptocurrencies have arisen as a compelling alternative."
Patreon, a crowdfunding site, stated on Friday that it has banned the contribution page for "Come Back Alive," a Ukrainian non-governmental organization that has been gathering funds for the Ukrainian military in battle zones since 2014. Patreon stated in a statement that the page breached the company's regulations, adding, "We don't allow Patreon to be used for supporting weapons or military operations."
Cryptocurrency Contributes in Modern Conflicts around the World
Cryptocurrency money rising will become an increasingly important component of current conflicts all around the world. Scammers, on the other hand, appear to take the opportunity of the present crisis in Ukraine by duping innocent people.
According to Elliptic, at least one social networking post was discovered to be a carbon duplicate of a valid tweet from an NGO, though with the author switching out the Bitcoin address, probably for one of their own.
Come Back Alive, a Ukrainian NGO
Come Back Alive is a Ukrainian NGO that provides military equipment, training, and medical supplies to the soldiers on the ground. The name “Come Back Alive” is derived from the message which was written on the bulletproof vests that are provided to the Ukrainian army.