Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Bitcoin Crowd Funding for Ukraine Military and Logistics by Volunteer Groups

Bitcoin Crowd Funding for Ukraine Military and Logistics by Volunteer Groups

Kelly Cromley by Kelly Cromley
Feb 9, 2022
in Bitcoin News, Market News, News
Reading Time: 2 mins read
0

Around 100 miles from the border of Ukraine, in the districts of Kursk and Voronezh, Russia has already assembled over a million Russian soldiers in anticipation of a coming worldwide dread that Russia would attack Ukraine. And to supplement the country’s military and logistical resources in order to avert a full-fledged catastrophic war, Ukrainian volunteer groups are increasingly turning to bitcoin and cryptocurrency crowdfunding, according to data from Elliptic, a blockchain firm that specializes in developing analytics tools for platforms like Binance and Circle.

“Volunteer group actions have targeted propaganda websites, the Russian Ministry of Defense, and a variety of people associated with Russia’s efforts in Ukraine. According to the article, information gathered during these operations is purportedly shared with Ukrainian law enforcement and intelligence organizations.”

RelatedPosts

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

Brave Wallet Integrates Cardano, Boosting Web3 Access

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

According to Elliptic’s principal scientist, Tom Robinson, “Cryptocurrency is increasingly being used to crowdfund war, with governments’ implicit sanction. Additionally, it is well-suited for international fundraising because to its lack of regard for national borders and resistance to censorship – there is no central authority that may prohibit transactions, for example in reaction to penalties”.

Thousands of dollars in donations have poured into numerous Ukrainian non-governmental organizations and volunteer groups. Several bitcoin wallets associated with these NGOs and volunteer groups received a total of around $5,70,000 in funds during the past year, the investigation found.

Among the organizations accepting Bitcoin donations is Come Back Alive, which provides crucial equipment, training, and medical supplies to the Ukrainian military. Since 2018, the organisation has received bitcoin contributions totaling almost $2,00,000, with a spike in the latter half of 2021.

The Ukrainian Cyber Alliance is another addition to the list, since it purportedly generates funds primarily via cryptocurrencies. While the Elliptic research indicates that the Alliance activists have been conducting cyberattacks on Russian targets since 2016, the group has collected about $1 million in donations, largely in bitcoin, litecoin, ether, and other stablecoins.

Myrotvotrets Center, a Kyiv-based NGO that has been taking cryptocurrency contributions from “more than 40 countries” since 2016 for its pro-Ukraine cause, has received around $2,67,000 from more than 100 bitcoin donations.

The business, which has links to the Ukrainian government, is now developing a face recognition program that would enable easy identification of “militants, Russian mercenaries, and war criminals,” in line with its modus operandi of sharing information about “Ukrainian adversaries.”

While traditional payment methods continue to account for a sizable portion of such bitcoin donations, crypto is proving to be a much more lucrative option due to its ability to circumvent conventional financial institutions that may refuse to make payments to Ukraine and is relatively difficult to track and monitor.

This is not the first time pro-Russian rebels have raised funds using bitcoin. A trend that has persisted since the beginning of the Russo-Ukrainian war in 2014. And Ukraine’s receptive posture toward cryptocurrency bodes well for the current state of affairs. Indeed, the nation intends to open the cryptocurrency market to companies and investors in 2022, according to Kyiv Post.

On an official state visit to the United States in August 2021, Ukrainian President Volodymyr Zelenskyy touted the country’s developing “legal innovative market for virtual assets” as a selling point for investment, and Minister of Digital Transformation Mykhailo Fedorov added that the country was modernizing its payment markets, with Zelenskyy signing a law authorizing the central bank to issue its own digital currency.

Previous Post

Bitcoins Worth $3.6bln Linked to 2016 Bitfinex Hacking Seized by US DoJ

Next Post

Cryptocurrency Market Integrity Association Formed by Top Crypto Firms

Related Posts

uzbekistan launches humo token backed by sovereign bonds

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

by Kelly Cromley
May 13, 2025
0

Uzbekistan is preparing to introduce HUMO, a blockchain-based digital token backed by government bonds, as part of a broader strategy...

brave wallet integrates cardano, boosting web3 access

Brave Wallet Integrates Cardano, Boosting Web3 Access

by Kelly Cromley
May 13, 2025
0

Brave, a privacy-centric Web3 browser, has officially integrated the Cardano blockchain into both its native and standalone wallet applications. This...

microalgo unveils blockchain-powered ip protection algorithm

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

by Kelly Cromley
May 13, 2025
0

MicroAlgo Inc. has introduced a blockchain-based intellectual property (IP) protection algorithm designed to overcome long-standing challenges in digital copyright enforcement....

0xmd expands to brazil in ai healthtech deal with senai cimatec

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

by Kelly Cromley
May 13, 2025
0

0xmd, a global startup focused on Generative Artificial Intelligence (AI) for healthcare applications, has officially launched its operations in Brazil...

fireblocks joins calastone to advance tokenized fund distribution

Fireblocks Joins Calastone to Advance Tokenized Fund Distribution

by Kelly Cromley
May 13, 2025
0

Fireblocks has announced its collaboration with Calastone, the global funds network, to enhance Web3 connectivity within Calastone’s Tokenized Distribution solution....

promptale ai and orbler unite to revolutionize web3 engagement

PrompTale AI and Orbler Unite to Revolutionize Web3 Engagement

by Kelly Cromley
May 13, 2025
0

PrompTale AI has officially disclosed its strategic partnership with Orbler through its verified account on X (formerly Twitter), outlining a...

Next Post
Cryptocurrency Market Integrity Association Formed by Top Crypto Firms

Cryptocurrency Market Integrity Association Formed by Top Crypto Firms

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • XRP Ledger Embraces Precious Metal-Backed Stablecoins with Meld Gold Partnership

    by Kelly Cromley
    Oct 2, 2024

Recent News

uzbekistan launches humo token backed by sovereign bonds
Market News

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

by Kelly Cromley
May 13, 2025
brave wallet integrates cardano, boosting web3 access
Market News

Brave Wallet Integrates Cardano, Boosting Web3 Access

by Kelly Cromley
May 13, 2025
microalgo unveils blockchain-powered ip protection algorithm
Market News

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

by Kelly Cromley
May 13, 2025
0xmd expands to brazil in ai healthtech deal with senai cimatec
Market News

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

by Kelly Cromley
May 13, 2025
fireblocks joins calastone to advance tokenized fund distribution
Market News

Fireblocks Joins Calastone to Advance Tokenized Fund Distribution

by Kelly Cromley
May 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree