Donations of cryptocurrencies have poured into a nonprofit organization that provides support to Ukrainian soldiers after Russia launched a large-scale attack on Ukraine. More than $5 million has been raised.
The group's fundraising page has been taken down. After Russia invaded Ukraine, there was a spike in donations. After Russia launched a large-scale offensive against Ukraine, one of the largest non-governmental organizations (NGOs) providing support to the military received over $5 million in bitcoins.
A range of military equipment, training services, and medical supplies are provided by the group. Donations to the address listed on the organization's website soared Thursday after Russia launched a full-scale military attack on Ukraine.
The Wallet address has received 131.78144015 BTC. A total of 2,207 donations were received from February 24 to February 25. The donations received since February 24 are worth more than $5 million. On February 23, the wallet received 76 donations and on February 22, it received 25 donations.
He was quoted by CNBC as saying that cryptocurrencies are being used to crowdfund war. Elliptic analyzed the donations received by Come Back Alive. The firm said that by 9:30 a.m. on Feb. 25, it had received more than $3.4 million.
The group has raised over $4 million in just 24 hours, thanks to a single donor who sent over $3 million. The Come Back Alive organization began accepting donations.
According to Elliptic, nearly $200K was received in the second half of the year. Donations in digital assets to Ukrainian NGOs and volunteer groups rose 900% last year, according to a report published by the platform earlier this month.
Come Back Alive's page on the platform has been taken down. The director of Come Back Alive told CNBC in an interview that the group was receiving small amounts for several months from its page on Patreon, and then over $300,000 rolled in after Russia started invading Ukraine.
When he tried to transfer the money to pay for equipment, he discovered that his organization's page had been removed. The platform said it was looking into the case.
Regardless of the cause, Patreon does not allow any campaigns that involve violence or the purchase of military equipment.