After being invaded by its eastern neighbor and causing significant damage to its financial network, Ukraine and its authorities sought cryptocurrency donations. The community and others responded quickly, with reports indicating that more than $13 million worth of digital assets were sent to the addresses provided.
Ukraine Seeks Cryptocurrency Help
After weeks of tensions between the two former Soviet states, Russian President Vladimir Putin launched a "special military operation" against Ukraine a few days ago, claiming he wanted to liberate certain separatists.
While he also initially claimed that his troops would not occupy Ukraine or travel to Kiev, that is exactly what happened over the next few days. As a result, the country's capital is currently fighting for survival, with its citizens either hiding in bunkers or trying to flee.
It is safe to say that normal life does not currently exist in this country. Countless locals flocked to ATMs to withdraw money as they tried to escape, but the central bank had to restrict cash withdrawals and seize electronic transactions.
At this point, reports began to emerge indicating that Ukrainian organizations were beginning to receive cryptocurrency donations. Soon after, authorities in the country sought more help in the form of bitcoin, ethereum and USDT through their official Twitter account.
Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ether and USDT.Bitcoin – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
With ongoing disinformation from all sides, many question the validity of these wallets, including Ether's Vitalik Buterin, who, despite being born in Russia, has spoken out against the war.
However, he removed his warning that the addresses may be illegal and supported another cryptocurrency-related organization that aims to help Ukrainians.
TRON founder Sun Yuchen joined in, saying he was "happy to announce" a $200,000 donation to Tether.
I am pleased to announce that I have donated $200,000 to #Ukraine on #TRON. The people of Ukraine are not alone in their struggle against the humanitarian crisis @VitalikButerin @FedorovMykhailo @Ukraine Check my hash: https://t.co/q0a2xgaIwK— Justin Sun Ho (@justinsuntron) February 26, 2022
The Ukrainian government, non-governmental organizations and volunteer groups have received nearly $14 million worth of cryptocurrency in the past few days, according to the latest estimates from blockchain analytics firm Elliptic.
The company said the median donation was $95, but it was recently reported that an anonymous entity donated $3 million worth of BTC.
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