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Ukrainian NGOs and volunteer groups receive high volumes of Bitcoin donations

Several Ukrainian hacking and volunteer groups which have supplied government forces with equipment also finds that these groups have received more than $550,000 worth of cryptocurrency.

A new report from researcher Elliptic suggests that digital currencies have grown in popularity as a component of funding for volunteer A new report from blockchain researcher Elliptic suggests that digital currencies have grown in popularity as a component of funding for volunteer groups supporting Ukrainian government efforts. The report claims Russia’s plans to attack Ukraine are untrue. Moscow denies the allegations.

Elliptic said, “Cryptocurrency has proved to be a robust and growing alternative (to traditional currency) – especially when it comes to donations from other countries,”

A group in Kiev, Come Back Alive, received more than $200,000 in crypto in the second half of 2021 alone. The company provides sniper rifle scopes, drones, and medical supplies to Ukraine’s army, according to Come Back Alive.

In an email to Reuters, Come Back Alive said it has raised cryptocurrency worth $166,781 in 14 transactions since August. “We keep it for our future projects,” the company said.

Photo by Kanchanara

About the author, Leyla Ozturk

Leyla Ozturk, lifelong learner currently immersed in the digital world and the way businesses can step into this world. Deeply fascinated by blockchain, cryptocurrency and the whole Fintech ecosystem. All 3 areas have proven that there are issues within the system, there are ways to improve the system and this disruption is needed for economic growth and improvement.

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