Bitcoin Donations Overflows to Support Ukraine

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Key Takeaways: 

  • People worldwide are donating to Ukraine to support their army in the fight with Russia.
  • The country has officially started accepting donations in Bitcoin, Ethereum, and USDT.

Since Thursday, when the Russian army started attacking Ukraine, the country has started receiving donations from worldwide. Elliptic shared that within 12 hours, a Kyiv-based Ukrainian non-governmental organisation named, Come Back Alive received donations worth $400,000 in bitcoin to support the army and almost 317 individual donations in the last two days. The donation surged to $3 million on Friday in a single bitcoin donation. 

In addition, a volunteer group of the country that supplies equipment to the army received more than $4 million in bitcoin donations. Tom Robinson, the chief scientist of Elliptic, said, “Cryptocurrency is increasingly being used to crowdfund war, with the tacit approval of governments.”

Today, OKLink has shared a report that shows the official Ukrainian Bitcoin donation address (bc1qkd5az2ml7dk5j5h672yhxmhmxe9tuf97j39fm6) has received a donation of 136.47BTC. In addition, exchange Crypto has also donated $1 million to the Red Cross to support Ukraine’s citizens, and FTX has donated $25 to each of its Ukrainian user accounts. 

 However, amidst all this, Patreon has seized $250k donated to Ukraine. Dennis Porter shared the news saying, “Bitcoin can’t be blocked”, and said that the country has the most Bitcoin on the balance of any nation-state. 

The official Twitter account of Ukraine shared two wallet addresses saying that they are now accepting donations in Bitcoin, Ethereum, and USDT. However, people suspected that the addresses might have been hacked and commented not to send money to those wallets. Vitalik also tweeted the same. However, he deleted the tweet when an American diplomat confirmed with the Ukrainian ambassadors that the addresses are correct and are currently operating under the authority of the Ukrainian government. 

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Shreya Bhattacharya
Shreya Bhattacharya

A journalist & writer exploring new topics every day!

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