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
“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.