The war in Ukraine crosses the one-week mark and there seems to be no end in sight. The Ukrainian government solicited donations from the crypto community and elsewhere by posting a message on Twitter. These funds will support its troops and civilians. Donations have been coming in and in currencies like ETH, BTC and USDT.
Funds were being sent to wallet addresses shared by Vice Prime Minister Mykhailo Fedorov on the country’s official Twitter account. He urged people to donate what they could to help Ukraine in its fight against Russia. While the ETH and BTC addresses are unchanged, the USDT wallet address is slightly different and is TRC20 based.
Per reports, ETH’s co-founder Vitalik Buterin thought that the accounts requesting funds were suspect and had been hacked. The authenticity of these addresses was confirmed by an American diplomat with his Ukrainian counterpart. As in any war, many Ukrainian citizens became refugees and lost access to their savings. According to the UN, more than 150,000 people have fled the Ukraine.
While there was speculation on how the received donations would be used, Vitalik Buterin set up a new initiative, a DAO. This will focus completely on the condition of the citizens of the beleaguered country. UkraineDAO, a new organization set up by Nadya Tolokonnikova was launched by releasing an NFT bearing the Ukrainian flag. Funds raised by this organization will be used to help civilians who are suffering due to the war. Since the last Thursday in February, many well known entrepreneurs in the crypto world have been working hard to help Ukrainians by donating money.