Cryptocurrency analysts say at least $US9 million has now been donated to the Ukrainian war effort through anonymous Bitcoin donations.
Researchers at a blockchain analysis company say that the Ukrainian government, NGOs and volunteer groups have raised the money by advertising their bitcoin wallet addresses online.
More than 4,000 donations have been made to date, with the average donation $95.
One unknown donor gifted Bitcoin around $3m.
On Thursday alone, one NGO received over $675,000 in bitcoin, and by Friday morning, that number had ballooned to more than $3.4 million thanks to that one-off $3 million donation.
The official Twitter account of the Ukrainian state called on users to “stand with the people of Ukraine” and said it was accepting donations in the form of Bitcoin, Ethereum and USDT cryptocurrencies.
It also posted addresses for two cryptocurrency wallets and within four hours had raised more than $3.3m from donations.
Very concerned with what's happening in Ukraine right now, and doing everything I can to support them during these difficult times.
— Mr. Whale (@CryptoWhale) February 25, 2022
I've just donated $10,000 to The Ukrainian Red Cross to assist victims of this war. I encourage everyone reading this to also help out if they can. pic.twitter.com/JdCiiHvtaj
Crypto during conflict
Cryptocurrency fund raising has become a modern part of war with cases also seen in other recent conflict zones around the world.
For years, volunteer groups have played a critical role in the Russia-Ukraine conflict. These organizations have augmented the work of Ukraine’s military by offering additional resources and manpower.
