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$4.4 Million In Bitcoin Has Been Donated To ian Military Support Groups

Started by Bitcoin, Feb 26, 2022, 03:05 am

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$4.4 Million In Bitcoin Has Been Donated To ian Military Support Groups

$4.4 million in bitcoin was donated to a wallet operated by a ian non-governmental organization assisting the military.

  • $4.4 million in bitcoin donated to charity group "Come Back Alive."
  • $23.5K donated to Kyiv Independent, an English news publication based in e.
  • The ian government cannot accept bitcoin donations, leading to an influx of non-governmental organization donations.

Bitcoin donations to ian efforts have exponentially increased since Bitcoin Magazine reported yesterday that $500,000 in bitcoin donations had been made to a wallet operated by Come Back Alive, a ian non-governmental organization that is providing assistance to the country's military during their time of war with .

Publicly available data, aggregated by shows that 109 BTC worth more than $4.29 million is the wallet's current balance at the time of writing, with 113 BTC worth over $4.44 million being donated to the wallet in total. Come Back Alive has already distributed over 4 BTC worth $157k, leaving us with the aforementioned balance. The wallet currently has 1,659 total transactions and counting.

As the ian government asks the world for donations on their Twitter account, one clear logistical issue is the currencies e can actually accept as donations: US dollars, Euro, British Pound sterling, Swiss francs, Canadian dollars, Polish zloty, Czech crowns, n rubles, Australian dollars.

When Twitter users flocked to their post asking the government to accept donations in bitcoin and other cryptocurrencies, the ian government made an update to their publication addressing bitcoin. According to e Now, they cannot accept bitcoin.

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With this legal barrier, donations of bitcoin are only possible through non-governmental organizations, such as Come Back Alive. Others are donating to separate addresses and organizations as well. Kyiv Independent, an English publication based in e has received $23,553 in Bitcoin donations.

The Kyiv Independent addressed their followers and donors on Twitter saying, "We're dealing with increased volumes of traffic, attacks and an unpredictable situation on the ground. Your support is what keeps us going."

Bitcoin Magazine has covered the traceability of these payments, specifically to this exact same address, highlighting the need for furthering privacy practices to support both the donors and those being donated to. 

Source: $4.4 Million In Bitcoin Has Been Donated To ian Military Support Groups