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Millions in Bitcoin donations pour into Ukraine

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4 years ago

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Elliptic founder Tom Robinson told the BBC: “Whereas some crowdfunding and payments companies have refused to allow donations to be made to groups supporting the Ukrainian military, cryptocurrencies have emerged as a powerful alternative.”

On Friday, fundraising platform Patreon announced that it had suspended the donation page for “Come Back Alive”, a Ukrainian NGO that has been raising money for Ukrainian forces in conflict zones since 2014.

Patreon said the page violated the company’s policies, saying in a statement: “We don’t allow Patreon to be used for funding weapons or military activity.”

Cryptocurrency fund raising is becoming an increasingly prominent part of modern conflicts around the world.

Scammers appear to be also be taking advantage of the current situation in Ukraine, though, by tricking unsuspecting users.

Elliptic says at least one social media post was found to copy a legitimate tweet from an NGO, but with the author swapping the Bitcoin address, presumably for one of their own.



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