By 8:50 a.m. Monday, Ukraine had received crypto worth $12.8 million across almost 17,300 donations.
Ukraine’s government on Monday raised cryptocurrency worth almost $13 million in a global appeal for fund raising to use in repelling Russia’s invasion of the country.
Data from blockchain analysis firm Elliptic, showed that Ukraine posted appeals on social media for donations of bitcoin and other digital tokens.
Ukraine’s official Twitter account made the appeal for cryptocurrency donations on Saturday, posting the wallet’s address for tokens including bitcoin and others.
Ukraine’s Vice-Prime Minister, Mykhailo Fedorov, who doubles as the minister of digital transformation, tweeted the wallet addresses with the caption: “Stand with the people of Ukraine. Now accepting cryptocurrency donations.”
The Interfax news agency said donations came as Russian forces seized two small cities in southeastern Ukraine and the area around a nuclear power plant but ran into stiff resistance elsewhere as Moscow’s diplomatic and economic isolation deepened.
By 8:50 a.m. Monday, the wallet addresses had received crypto worth $12.8 million across almost 17,300 donations, London-based Elliptic said.
The company tracks the movement of digital coins on the blockchain, a public ledger that records crypto transactions.
Ukraine’s ministry of digital transformation confirmed the tweets were genuine, adding: “How will we use money? To destroy as much Russian soldiers as possible.”
Its crypto crowd funding appeal was unprecedented. Though some states, notably El Salvador, has embraced cryptocurrencies, Ukraine’s appeal for direct donations was among the first of its kind.
Crypto donations to Ukrainian volunteer and hacking groups have also spiked since Russia launched its invasion on Thursday, Elliptic said.
The donations to such groups, some of which have supplied equipment to government forces, grew strongly in January as Russia massed troops near Ukraine’s border ahead of its invasion.
(Reuters/NAN)
