Pro-Russian groups raised only 4% of crypto donations sent to Ukraine
“While significant, the $2.2M worth of crypto donated to pro-Russian orgs still pales in comparison to the tens of millions in crypto donated to Ukraine,” said Chainalysis. According to data from crypto analytics firm Chainalysis, users have sent more than $2 million in crypto to 54 pro-Russian groups since Feb. 24, a fraction of that received by many wallets controlled by the Ukrainian government.In a Friday blog post, Chainalysis said it had tracked funds sent to social media accounts controlled by pro-Russian groups in Bitcoin (BTC), Ether (ETH), Litecoin (LTC), USDT-TRX, and Dogecoin....
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Groups supporting Russia’s war effort in Ukraine have been actively collecting cryptocurrency to fund paramilitary operations and evade sanctions, researchers say. According to a new report, these organizations use Telegram to raise money then used to pay for equipment and training. Paramilitary Groups Employ Cryptocurrency to Fund Russian Operations in Ukraine Pro-Russian groups have reportedly raised a serious amount of cryptocurrency for Russia’s military activities in Ukraine, circumventing U.S.-led sanctions. According to a study carried out by the digital asset....
According to a report stemming from the blockchain intelligence company Chainalysis, the firm identified 54 pro-Russian groups that have “collectively received over $2.2 million worth of cryptocurrency.” The paramilitary groups in Ukraine primarily received bitcoin and ether donations but also got tether, litecoin and dogecoin as well, the Chainalysis study details. $2.2 Million in Crypto Sent to Pro-Russian Groups Located in Ukraine, Says Chainalysis Chainalysis believes more than $2.2 million worth of crypto assets have been acquired by pro-Russian paramilitary groups....
Per a recent report from on-chain analytics firm Chainalysis, pro-Russia groups in Ukraine are raising funds in Bitcoin, Ethereum, Litecoin, and other cryptocurrencies to support their operations. The report claims these groups have raised a total of over $2.2 million using social media platforms. As seen below, most of the donations have been made in […]
Crypto circle recently retorted the Russian attack on Ukraine a week ago, joined to help Ukrainian citizens, upended donations worth $30 million. The main objective of such handsome donations is to help the people affected by the Russian attack. Bitcoin and the other digital crypto assets are appearing hot spots because many people of Ukraine […]
The use of cryptocurrency by Ukrainians is an effort to fight back against Russian troops positioned in their country. A blockchain analytics firm Elliptic revealed that Ukrainian crowdfunding had increased 900% since 2021, with most donations coming from within Ukraine itself rather than externally like before when it was funded mainly by other countries or organizations who saw what they called “a crisis.” Related Reading | Ukraine Adopts New Law To Legalize Bitcoin And Other Cryptocurrencies These groups have seen a significant rise in cryptocurrency funding thanks to....