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Ukrainian Crypto Donations Top $60 million

February 12, 2024

The volume of charity flowing into Ukraine in recent weeks has been significant.  A striking difference to past conflicts, however, is the amount of donations made in cryptocurrency.  

The Ukrainian government has been at the forefront of this effort, with the Ministry of Digital Transformation of Ukraine creating 13 crypto donation addresses for assets ranging from Bitcoin and Ethereum to Dogecoin, Luna and Monero.  

Across the board, Hoptrail’s research suggests donations are available via approximately 20 different blockchains.  This does not include deposits made in ERC-20, ERC-721, BEP-20, or other similar standards.

This should come as no great surprise.  Prior to the war, Ukraine had the highest crypto adoption rate in Europe, and one of the highest globally – a trend which has grown sharply since 2014.  On Binance, BTC/UAH (Ukrainian hryvnia) volumes have increased to 2022 highs in recent days as Ukrainians seek to hold more digital assets.

In addition to Binance, venues such as Ukraine-based Kuna and Estonia-headquartered WhiteBIT – both set up and run by Ukrainian nationals – have been the primary recipients (‘off-ramps’) of crypto donations to Ukraine.  Kuna is the government’s selected exchange for deposits and withdrawals.

More broadly, Hoptrail research identified more than 30 cryptocurrency wallets claiming to route charitable donations to Ukraine, across at least 12 organisations.  These include charities, media organisations, government ministries, and decentralised autonomous organisations (DAOs).

As of 28 March 2022, crypto wallets controlled by these organisations have received more than $61 million in Bitcoin and Ethereum.  Of this, roughly $48 million has gone to the Ministry of Digital Transformation of Ukraine.  Smaller amounts on other blockchains were identified, as were deposits in a variety of ERC-20 tokens: Curve, Chiliz, HEX, Compound, and Basic Attention Token, to name a few.

Since the Ukrainian government set up its wallets on 24 February 2022, there has been a proliferation of similar services, although not all could be verified.  Claims from some quarters to route charitable donations appear dubious, although at this stage it is difficult to assess whether these are scam-related or not.  Either way, any donations should be assessed carefully.  

Those addresses which have been verified by Hoptrail are provided below.  All wallets were created between 24 February and 11 March 2022.  

TagTypeAddressAssetMinistry of Digital Transformation of UkraineGovernment0x165CD37b4C644C2921454429E7F9358d18A45e14ETH/ERC-20Ministry of Digital Transformation of UkraineGovernment357a3So9CbsNfBBgFYACGvxxS6tMaDoa1PBTCMinistry of Digital Transformation of UkraineGovernmentTEFccmfQ38cZS1DTZVhsxKVDckA8Y6VfCyUSDT(TRC-20)Ministry of Digital Transformation of UkraineGovernmentterra1n0nzlxfuk3e54vxktnskaze7c5g8h8vrxk8gyjLUNAMinistry of Digital Transformation of UkraineGovernment66pJhhESDjdeBBDdkKmxYYd7q6GUggYPWjxpMKNX39KVSOLMinistry of Digital Transformation of UkraineGovernment1x8aa2N2Ar9SQweJv9vsuZn3WYDHu7gMQu1RePjZuBe33HvDOTMinistry of Digital Transformation of UkraineGovernmentSee BelowADAMinistry of Digital Transformation of UkraineGovernmentDS76K9uJJzQjCFvAbpPGtFerp1qkJoeLwLDOGEMinistry of Digital Transformation of UkraineGovernmentSee BelowALGOMinistry of Digital Transformation of UkraineGovernment0.0.779299HBARMinistry of Digital Transformation of UkraineGovernmentSee BelowXMRMinistry of Digital Transformation of UkraineGovernmenthxd07e6d45d9c136a9dcc18eebad937044e36cbc75ICXMinistry of Digital Transformation of UkraineGovernment0202aacf42dddd932d76ca61e5bada656e27d226245cea1629caabd4211e90b1abc7CSPRCome Back and AliveCharity0x93Bda139023d582C19D70F55561f232D3CA6a54cETH/ERC-20Come Back and AliveCharity0xa1b1bbB8070Df2450810b8eB2425D543cfCeF79bETH/ERC-20Kyiv IndependentMediabc1qtdkvd5j89drlk2yaekpszm0rlrnsrfetdd5am7BTCKyiv IndependentMedia0x97849c43DB2AD63905aCcAD01Cbd6794833A95b5ETH/ERC-20UkraineDAODAO0x633b7218644b83D57d90e7299039ebAb19698e9CETH/ERC-20Nova UkraineCharity0x12c546c89E4158b151597d761048A5C33C4f54CCETH/ERC-20PalianytsiaCharitybc1qfraqann25zz5acjxf6pwammr2e2zdfwqd4p9epBTCPalianytsiaCharity0x707A0A00E2Fcf5329816b5223C91Ea38F22d31a0ETH/ERC-20SOURCE: Sources

Verification drew on desktop research and blockchain data.  This list should not be considered complete, and may be subject to alteration.

ADA: addr1qykgqgv5flwu4rm9wt2e69vuywj0fx368ylxqzqa7ep0ckm4zeuw67f9snkur4syrz2elqeyafx8wculjeearp3tz0wscz9350

XMR: 42HKMWrDzCt45jAp9g5SBe1AJbnBwgUpY8nNfaG6g2T1ZLQpMesUsX1HzZwhuX4CCH7T5ew8AhBPNDXfHNU9xN77N232aap
ALGO: KYJCXKA3GB4QLCJKQN7QIKARL63U6BD3PSBAB7ZGJGCR4E4X54CYVUPLW4

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