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28 Feb 2022

Ukraine Receives Millions in Bitcoin Donations

The Index Today

As conditions escalate in war-torn Ukraine, donors and well-wishers have turned to cryptocurrency to show their support for the country.

According to crypto experts, at least $13.7 million anonymous Bitcoin donations have been made to Ukraine. The official Twitter handle of the Ukrainian government announced on Saturday, "Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT."

The government, which released the addresses for two crypto wallets, collected $5.4 million within just eight hours in Bitcoin, Ether, and other cryptocurrencies.

The country’s Digital Ministry made a brief statement pertaining to the donations which, it says, will be used to “help Ukraine’s armed forces”.

However, Elliptic, a blockchain analysis firm, has warned people about scammers taking advantage of the Ukraine-Russia crisis to swindle unsuspecting users. According to BBC News, Elliptic has found at least one social media post that imitates that of a pro-Ukraine NGO, except for the Bitcoin address which has been supposedly replaced by a fraudulent one.

©Photo: Shutterstock

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