In the days immediately following Russia's full-blown military offensive into Ukraine, more than $4 million has been sent to a single Ukrainian military support organization in just two days.
Cryptocurrency payments to military and hacktivist groups in Ukraine aimed at countering Russian aggression against the country rose sharply in the second half of 2021, according to cryptocurrency tracing and blockchain analysis firm Elliptic.
That $4.6 million dollars may be just a small fraction of the total funds Ukrainian defense and hacktivism groups have raised by more traditional means. But the sudden rise of cryptocurrency within these global donations demonstrates how borderless, often unregulated crypto payments could fund organizations engaged in future conflicts, says Tom Robinson, Elliptic's founder.
A more controversial group called the Myrotvorets—Ukrainian for "Peacemaker"—Center has publicly named and shamed alleged supporters of Russia or pro-Russian separatists in Ukraine—at least. Myrotvorets raised $268,000 in cryptocurrency prior to Russia's invasion, Elliptic says, of which $237,000 came just in the second half of last year.
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