Ukraine Receives $5M in Crypto Donations After Russian Invasion- the coin leaks

Ukraine Receives $5M in Crypto Donations After Russian Invasion

The Ukrainian government is looking for donations in the form of cryptocurrency as the country is seeking to stop the attack of Russia.

It is reported that the bitcoin, as well as Ethereum wallets that are publicly listed as government-approved via Twitter, are already receiving about $4.9 million worth of cryptocurrency. The Ethereum wallet received more than $3.9 million in donations as of 22:39 UTC. The Bitcoin wallet has been receiving $970,000 at that time as well, and some bitcoin has already been distributed.

Official Twitter profiles that belong to The Ukrainian government and Vice-Prime Minister Mykhailo Federorov shared address for wallets to make contributions of Bitcoin (BTC) as well as the ether (ETH) along with the stablecoin Tether (USDT).

The funds were first flowing into the accounts listed over concerns that the Ukrainian government’s account was compromised. Even though Ethereum founder Vitalik Buterin expressed doubt as the legitimacy of the appeals, tweets were through verified accounts. ( Buterin later said that the account was “legit” and he’d be deleted from the warning.)

 

The representatives of the Ukrainian government were not immediately available to provide a response, nor was the official website of Ukraine was unavailable.

 

When the article was first released, the wallets contained approximately $435,000 worth of crypto. However, less than an hour later the Bitcoin wallet held approximately $500,000 or 13 BTC and the Ethereum wallet contained approximately $3.6 million which is 1,090 ETH. This may not be the entirety of the money given, however, there are signs that bitcoin has already been taken out of the respective wallets.

 

It isn’t the first occasion that cryptocurrency is used to help Ukrainians in their fight against the Russian invading force. A digital wallet which raises money to help Ukrainian troops Ukrainian military is receiving nearly $6 million in bitcoin.

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