Yarema Dukh, a media strategist who helped set up Ukraine’s official Twitter account in 2016, confirmed to BuzzFeed News that the tweet and wallet was a legitimate government scheme. He said that he believes crypto funds will “destroy as many Russian residents as possible,” but is uncertain about the government’s exact spending plans.
Initially, some people, including ethereum founder Vitalik Buterin, were concerned that this tweet might come from scammers who hacked the account. After hearing from the deputy prime minister, Buterin tweeted that he has received confirmation, but encourages people to remain cautious when sending crypto donations.
By far, according to the ledger, the largest donation of 100 ethers (approximately $278,000) came from Deepak Thapliyal, CEO of Chain.com, a blockchain technology company. Thapiyal told BuzzFeed News: “When I realized that the Ukrainian government was asking for donations in the form of cryptocurrency, I felt compelled to do my part to help. “Cryptocurrency donations are borderless and near-instant, so I hope that the government there can harness it as soon as possible to help those in need.”
Ukrainian NGOs and volunteer groups have a history of accepting bitcoin. The volunteer group Come Back Alive, specializing in supplying supplies to the Ukrainian army, has Request a donation in cryptocurrency since 2018, according to blockchain analytics firm Elliptic. In a report, Elliptic speak that governments and NGOs have received $11 million in crypto donations since the invasion starting on Thursday.
The country is especially willing to handle crypto donations. This fall, it has passed a legalization and regulation of bitcoin and other cryptocurrencies, making it one of the few countries that accept cryptocurrencies. Ukraine’s low taxes and large pool of tech talent make it a cryptocurrency center.