The Ukrainian government reached out to the crypto community in the first week of the Russia-Ukraine war to raise crypto donations to support its people and military. Ukraine has begun taking donations in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
As Russia threatens to conquer Ukraine’s capital city of Kyiv, there has been heavy talk on social media, with many big names coming forward to express their concerns over the safety of citizens of the two nations.
The government has been seeking assistance from various foreign organizations. Because time is of the utmost importance, Ukraine’s official Twitter account has reached out to Crypto Twitter for assistance.
Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.
BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14
— Ukraine / Україна (@Ukraine) February 26, 2022
Ukraine shared three wallet addresses for donation
In addition, Ukraine’s Vice Prime Minister, Mykhailo Fedorov, shared three cryptocurrency wallet addresses, inviting the crypto world to donate and support Ukraine in its struggle against Russian forces.
Fedorov’s USDT wallet address is TRC20-based, while his BTC and ETH addresses remain the same.
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
Renowned crypto entrepreneurs, including Ethereum co-founder Vitalik Buterin, originally believed that the demanding crypto donations were being hacked. However, Ukrainian Ambassador Olexander Scherba later verified its legality to American diplomat Tomicah Tillemann.
Getting some confirmations from a couple sources that it's legit. Deleting my warning for now. But continue to be vigilant, and always be slow and careful when sending irreversible crypto transactions. https://t.co/Odv5pxf3mp
— vitalik.eth (@VitalikButerin) February 26, 2022
Civilians in Ukraine who have become refugees have reported losing access to their fiat savings and credit cards as a direct result of the ongoing conflict.
Another DAO plan for donations
While there was some doubt about how the crypto donations would be used, Buterin shared another decentralized autonomous organization (DAO) plan that is purely focused on Ukrainian citizens.
UkraineDAO, founded by Nadya Tolokonnikova of Pussy Riot, began with the issue of a 1/1 non-fungible token (NFT) of the Ukrainian flag to generate donations for Ukrainian civilian organizations to assist those affected by Putin’s conflict.
It is presently believed that proceedings to the Ukrainian government’s shared addresses would be used directly by the government, while DAO proceedings will be channeled to citizen welfare via an NGO.