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BTC Donation To Help Ukraine Fight Russia

Come Back Alive, one of the leading non-governmental organizations (NGOs) assisting Ukraine's army, has acquired over $5 million in cryptocurrency contributions since Russia initiated a large-scale operation against Ukraine.

BTC Donation To Help Ukraine Fight Russia iBase Trading.
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Come Back Alive, one of the leading non-governmental organizations (NGOs) assisting Ukraine’s army, has acquired over $5 million in cryptocurrency contributions since Russia initiated a large-scale operation against Ukraine.

The Kyiv-based organization is established in 2014. It offers military gear, training expertise, and medical aid to Ukrainian soldiers.

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Contributions to the BTC registered address on the organization’s website skyrocketed on Thursday. This is following Russia’s full-fledged military strike on Ukraine. The wallet address had received 131.78144015 BTC by the time of writing.

Collected BTC

An examination of all payments to the address revealed that Come Back Alive collected 2,207 donations amounting to 126.04304091 BTC. This is between February 24 and late February 25. The contributions collects value at more than $5 million since Feb. 24. This is equivalent at the present value of bitcoin of $39,676.51.

In contrast, the wallet collected only 1.60976481 BTC (76 donations) on February 23 and 0.42272864 BTC (25 contributions) on February 22.

Tom Robinson, the lead researcher and co-founder of blockchain analytics company Elliptic, tweeted that bitcoin donations to Ukraine’s military forces were surging. He was cited by CNBC as claiming that cryptocurrencies were frequently being utilized to crowdfund war, with governments’ encouragement.

Elliptic also examined the contributions collected by Come Back Alive. According to the organization, the NGO collected more than $675,000 in bitcoin on February 24, and by 9:30 a.m. on February 25, it had collected more than $3.4 million. Mentioning that one donor gave over 80 BTC, the firm said that this elevated the NGO’s overall donated amount in 24 hours to more than $4 million.

In 2018, the Come Back Alive firm started receiving bitcoin donations. According to Elliptic, BTC contributions have recently increased, with approximately $200K collected in the second half of 2021. Earlier last month, the platform issued a report revealing that cryptocurrency donations to Ukrainian NGOs and volunteer teams increased by 900 percent last year.

Come Back Alive’s Fundraising Page

However, Patreon has taken down Come Back Alive’s fundraising page.

For months, the organization received little amounts from its Patreon website before Russia attacked Ukraine, according to Taras Chmut, director of Come Back Alive. Unfortunately, he discovers that They erase the Patreon page for his group when he tries to withdraw the funds to acquire equipment. He then contacts the platform. As a result, it informs him that they investigates the matter.

According to a Patreon representative no campaigns involving violence or the purchase of military weaponry were permitted on the platform. This is irrespective of the purpose.

Chmut points outt that people are dying in Ukraine since they do not have body armour. They are emphasizing that Ukraine is not wealthy. Come Back Alive has assisted soldiers in receiving the equipment they require.

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Sophia Vasquez is a journalist and writer for iBaseTrading. She has over 10 years of experience writing about Business news and has been covering the blockchain and cryptocurrency space since 2011.