Cryptocurrency analysts say at least $13.7m (£10.2m) has so far been donated to Ukraine’s war effort through anonymous Bitcoin donations.
Researchers at Elliptic, a blockchain analytics company, say the Ukrainian government, NGOs and volunteer groups have raised money by advertising their Bitcoin wallet addresses online.
More than 4,000 donations have been made so far with an unidentified donor donating $3 million worth of Bitcoin to an NGO. The median donation is $95.
On Saturday afternoon, the official Twitter account of the Ukrainian government posted a message, “Stand with the people of Ukraine. Now accept donations of cryptocurrencies. Bitcoin, Ethereum and USDT.”
Ukraine’s Digital Ministry said the latest call for donations was to help the Ukrainian armed forces but would not elaborate on how the money would be spent.
Elliptic founder Tom Robinson told the BBC, “While some funding and payments companies have refused to allow contributions to be made to groups supporting the Ukrainian military, cryptocurrencies have emerged as a powerful alternative.”
On Friday, fundraising platform Patreon announced that it had hung up a donation page for “Come Back Alive”, a Ukrainian NGO that has been raising money for Ukrainian troops in conflict zones since 2014.
Patreon said the site violates company policy, saying in a statement, “We do not allow Patreon to be used to fund weapons or military activities.”
Cryptocurrency fundraising is becoming an increasingly prominent part of modern conflicts around the world.
Credit to: https://bbc.in/3teqm59