Cryptocurrency analysts say at least $9 million has so far been donated to Ukraine’s war effort through anonymous Bitcoin donations.
Researchers at Elliptic, a blockchain analysis company, say the Ukrainian government, NGOs and volunteer groups raised the money by publishing their bitcoin wallet addresses online, writes the BBC.
To date, more than 4,000 donations have been made, and an unknown donor has donated $3 million worth of Bitcoin to an NGO.
The average donation is $95, currently.
The official Twitter account of the Ukrainian state asked users to “stand alongside the people of Ukraine” and said it accepts donations in the form of cryptocurrencies Bitcoin, Ethereum and USDT.
He also posted addresses for two cryptocurrency wallets and, in four hours, raised more than $3.3 million in donations.
“While some crowdfunding and payment companies have refused to allow donations to groups that support the Ukrainian military, cryptocurrencies have emerged as a powerful alternative,” said Elliptic founder Tom Robinson.
Cryptocurrency fundraising has become a modern part of the war, with cases seen in other recent conflict zones around the world.
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