After Russia officially invaded Ukraine last week on Thursday, activist groups received a lot of donations in Bitcoin. The government of Ukraine then officially provided wallet addresses for donations in Bitcoin, Ethereum, and USDT.
By Sunday, February 27, Ukraine has raised more than $17 million in cryptocurrency donations. Of this number, $10 million was sent to the crypto wallets posted by the Ukrainian government within 24 hours.
Official Wallet Addresses for BTC, ETH, and USDT Donations
Ukraine posted its BTC, ETH, and USDT addresses via the government’s official Twitter handle and Vice Prime Minister Mykhailo Fedorov. The BTC and ETH addresses shared by Ukraine’s Twitter handle and Federov are the same. However, the USDT handle shared Federov is TRC20-based. A cyber defense official in Ukraine, Victor Zhora, later confirmed that the wallet addresses were accurate.
When crypto donations started pouring into Ukraine, there was a revelation of a law that made it illegal for the country to accept donations in Bitcoin. However, as Russian troops continued getting closer to Ukraine’s capital Kyiv, the country openly solicited BTC, ETH, and USDT.
When Ukraine first posted the wallet addresses, Ethereum’s co-founder Vitalik Buterin warned it could be a scam. However, he later tweeted that he had talked to the embassy of Ukraine to the World Trade Organization.
The embassy confirmed to Buterin that the addresses were correct, and he proceeded to delete his earlier warning. American diplomat Tomicah Tillemann also confirmed that Olexander Scherba, Ukraine’s former ambassador to Austria, said the addresses were legitimate.
Cryptocurrency Has Become a Life-Saver in the Ukraine-Russia Crisis
Cryptocurrencies have been a lifesaver in the Ukraine-Russia crisis. After fleeing the country, Ukrainian citizens now say they have lost all their life savings except for cryptocurrencies. According to the refugees, Ukraine credit cards do not work anymore. Cryptocurrency is the only fund they can access.
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