Russian Banks cut off from SWIFT And Ukraine receives outpouring of Crypto support in high volumes as the world rallies support for Ukraine.
Ukraine Crypto Support – Donations so far
Ukraine has raised at least $15 million in crypto after a crowdfunding appeal. Following the country’s invasion by Russia, Ukraine’s official Twitter account launched a request for cryptocurrency donations on Saturday, revealing digital wallet addresses for tokens such as bitcoin and ether. In all nearly $15 million in #Bitcoin has been anonymously donated to support Ukrainians and still counting.
Ukraine’s Vice-Prime Minister Mykhailo Fedorov tweeted the wallet addresses. “Stand with the people of Ukraine. Now accepting cryptocurrency donations,” wrote Fedorov, who is also minister of digital transformation.
Stand with the people of Ukraine
Now accepting cryptocurrency donations. Ethereum. Bitcoin and Tether (USDTtrc20)BTC — 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH — 0x165CD37b4C644C2921454429E7F9358d18A45e14
USDT (trc20) — TEFccmfQ38cZS1DTZVhsxKVDckA8Y6VfCy
— Mykhailo Fedorov (@FedorovMykhailo) February 26, 2022
Some of the donations that have come in are captured in the images below…
In a related development, The US and its allies have taken unprecedented measures today by seeking to exclude Russian banks from using the SWIFT system. This action is intended to stymie Russia’s ability to fund its war activities by cutting off access to the Dollar-based financial system which also makes its Central Bank assets less valuable.
These acts will very certainly have second and third-order effects for the future as history develops in real-time. In particular, in the blockchain and cryptocurrency arena.
Crypto Twitter has been flooded with messages of sympathy for the Ukrainian people and a swift stop to the bloodshed. Furthermore, Ukrainian politicians have used Twitter to request support in the form of cryptocurrency donations.
Interestingly, RociFi’s fraud analytics tracked a series of transactions that originated with a flagged fraudulent address via Etherscan.
The initial fraud actor utilized four intermediate addresses, each of which was identified as a high fraud risk by RociFi, in a sequence of four transactions to contribute 1.96 ETH to Ukraine. In this scenario, even con artists support the Ukrainian people!
This move is expected to raise the value of Cryptocurrency even higher. Larger DAOs, like Aave, have already put up community proposals to contribute big amounts to the Ukrainian people, which will need to be confirmed by the community members.
While Cryptocurrency donations pour in for Ukraine, the entire world wants this war to end now since the longer it prolongs the more it threatens world peace.