menuIcon
$ 86,860.3
BTC
$ 86,860.3
-1.08 %
$ 2,015.67
ETH
$ 2,015.67
-2.52 %
$ 0.7428
ADA
$ 0.7428
-1.89 %
$ 626.88
BNB
$ 626.88
-1.12 %
$ 139.47
SOL
$ 139.47
-4.02 %
Sandeep Kumar Mishra
Feb 27, 2023
by Sandeep Kumar Mishra

Chainalysis Report Says Ukraine Netted $70M in Crypto Donations Since The Start of War With Russia

Chainalysis Ukraine Crypto Donations
A Chainalysis report has revealed that since Russia’s takeover of Ukraine, Ukraine has received crypto donations of approximately $28.9 million in Ether, $22.8 million in Bitcoin, and $11.6 million in Tether. The funds have been utilized for military equipment and humanitarian assistance. Ukraine has also been given donations in the form of Non Fungible tokens.

Chainalysis Report Throws Light on Assistance Ukraine Has Received Via Crypto Donations

The Chainalysis report says that the adoption of cryptocurrency in Ukraine has increased because of increased reliance on cryptocurrency. This has made Ukrainians the third-highest crypto adopters, behind Vietnam and the Philippines.

The Ukraine Minister of Digital Transformation said that the Crypto Fund Aid For Ukraine was an absolute success and it was simply fascinating the ease with which the digital ministry could access those funds for Ukraine's defense.

Ukraine’s vice prime minister and minister of digital transformation tweeted that a significant portion of the cryptocurrency contribution has been used to purchase medical supplies, armor, vehicles, and military equipment. 

Pro-Russian Military Groups Have Been Using Cryptocurrency To Fund War Efforts

Pro-Russian military groups also used cryptocurrency to raise funds for the war efforts such as buying military equipment, disseminating false information, and more.

The majority of funds have been taken by the actors based out of Russia itself, according to a report. Russia-based pro-conflict ransomware group Conti, such attacks are frequently used by bad actors to advance their political goals.

Follow us on: News
Crypto Donations Chainalysis Report Ukraine Russia War
Chainalysis Report Says Ukraine Netted $70M in Crypto Donations Since The Start of War With Russia
Sandeep Kumar Mishra
Sandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He has a strong mix of skills in the areas of computer networking, cryptography, algorithms, and data structures and specializes in ERC20 tokens. Lately, he is taking a lot of interest in blockchain-powered AI solutions, about which he is also reading and writing extensively. He has to his name dozens of deeply researched articles about cryptocurrencies, blockchain, AI, and IoT. Apart from that, he loves to keep track of the latest trends in social media and digital marketing space. Also, as a huge proponent of blockchain and cryptocurrencies, Sandeep tries to deliver all the latest cryptocurrency news to ardent crypto supporters like yourselves. If you like his content, feel free to follow him on LinkedIn.

Top Picks