$3 Million In BTC Donated To Ukraine’s Charitable Organizations

Up to $3 million in BTC have been so far donated to Ukraine’s charitable organizations while the military equipment provider Come Back Alive recieved up to $400,000 worth of BTC in the last 24 hours so let’s read furhter in today’s latest Bitcoin news.

Accoridng to the data from Elliptic, people donated $400,000 worth of BTC to the Ukrainian NGO Come Back Alive which provides the military with equipment, medical supplies, and training services. However now, a mysterious contributor donated $3 million in BTC to a charity organization that supported the Ukrainian army. Another Ukraine entity cyber Alliance recieved $100,000 worth of BTC, ETH, and LTC over the last year.

Cryptocurrency donations in support of the Ukrainian armed forces are soaring – with almost $400,000 received so far today.
Learn more about the crypto-crowdfunding of the Russo-Ukrainian War, in this recent @elliptic blog: https://t.co/aTRwTsOkTj pic.twitter.com/Wefb7jRRdW

— Tom Robinson (@tomrobin) February 24, 2022

The Chief Scientist of elliptic Tom Robinson revealed that the digital asset donations in support of the Ukrainian military are on the rise. In the last 24 hours, the foundation Come Back Alive recieved up to $400,000 worth of BTC. With these donations, the contributors provide the military with equipment, drones, medical supplies but another target is also developing a facial recognition application that can identify if someone is a Russian spy as Robinson added:

“Cryptocurrency is increasingly being used to crowdfund war, with the tacit approval of governments.”

It is worth noting tht someone made a donation of over $3 million worth of BTC today in support of the Ukrainian military forces. Another organization that got donations with Cyber Alliance where people poured over $100K worth of BTC, ETH, and other cryptocurrencies. The group is a community of Ukrainian cyber activities that protect Ukraine’s cyberspace and counterattack on Russian hackers. At the same time, the Pro-Russian separatists were raising funds in digital assets since the start of the conflict but it is not clear how big of an amount they have donated.

Last year, the Ukrainian volunteer groups recieved more than $570,000 worth of BTC which represents a 900% increase compared to 2020, as Elliptic noted:

“Bitcoin has also emerged as an important alternative funding method, allowing international donors to bypass financial institutions that are blocking payments to these groups.”

The Russian-Ukrainian conflict has its roots in a long history between the two states. In 2014, Russia annexed the Crimean Peninsula from Ukraine caused a civil war and earlier this week, the tensions reached a peak as Putin ordered a military operation o Ukraine which ended up being a full-scale invasion. Most leaders and individuals opined against Russia’s actions and one of them was Ethereum’s founder Vitalik Buterin.