Ukraine raises millions in crypto donations “to destroy as many Russian soldiers as possible” | world news
Ukraine has received millions of pounds in cryptocurrency donations – a government spokesman told Sky News the funds will be used “to destroy as many Russian soldiers as possible”.
Addresses for Bitcoin and Ether wallets were shared on the country’s official Twitter account, as well as on the profile of Deputy Prime Minister Mykhailo Fedorov.
Vitalik Buterin, co-founder of the Ethereum blockchain, had raised concerns that the Twitter accounts might have been hacked, meaning all crypto donations could end up in the hands of malicious actors.
Russian advance slows due to ‘heavy resistance’ – live updates
However, a spokesman for Ukraine’s Transformation Ministry has confirmed that the request for cryptocurrency donations is genuine – and that its communication channels are “secure”.
“We are trying to contribute to Ukraine’s victory and to raise international society’s awareness of what is happening in Ukraine,” the spokesman added.
Records show the bitcoin and ether wallets are currently holding £5.4 million together – with hundreds of donations made in the last few hours.
Volunteer groups and non-governmental organizations in Ukraine have long been accepting cryptocurrency donations.
Blockchain intelligence firm Elliptic said, “Cryptoassets like Bitcoin have also emerged as an important alternative funding method.
“They enable fast, cross-border donations that bypass financial institutions that may be blocking payments to these groups.”
Crowdfunding website Patreon recently said it was removing a page from Come Back Alive — a Kyiv-based nonprofit founded in 2014 — because it doesn’t allow its platform “to be used to fund weapons or military activities.”
Read more: Day three of the Russian invasion mapped
Come Back Alive got its name from the messages written on bulletproof vests given to the Ukrainian army. It provides soldiers on the ground with military equipment, training and medical supplies.
Data from Elliptic suggests the group has received millions of pounds worth of bitcoin in recent days – including 80 BTC (£2.3million) from a single donor.