Cyberpolice in War-Torn Ukraine Joins Government in Accepting Crypto Donations

Ukraine’s cyberpolice has decided to seek help from the global crypto community under the backdrop of Russia intensifying war tactics in the neighbouring nation. In a bid to gather emergency funds, the government of Ukraine begun accepting crypto donations last week and has collected over $42 million (roughly Rs. 320 crore) since, as per blockchain analytics firm Elliptic.

The cyberpolice unit of Ukraine is now accepting donations in Bitcoin, Ether, Tether, Tron, Polygon, and Binance Coin, a report by Bitcoin.com said.

Amid the ongoing war, the cyberpolice of Ukraine is working to deflect cyberattacks which could potentially emerge from Russia and its allies.

The collected cryptocurrencies will be distributed among other wings of the Ukraine’s armed forces as well, including the National Police, the National Guard, the State Border Guard Service, and the State Emergency Service among others.

Ukrainian authorities have also requested crypto miners to connect their equipment with the officially listed Ether and Bitcoin wallet addresses.

Unregulated and decentralised in nature, cryptocurrencies can facilitate instant cross-border transfer of funds. Crypto transactions are also largely untraceable.

The constant attacks on Ukraine on the orders of President Vladimir Putin have not only caused infrastructural damages, but have also costed the lives of several innocent individuals.

As a welcome gift, the Ukraine government is planning to airdrop crypto tokens to its donors.

Ethereum network explorer Etherscan has identified that seven billion units of newly created Peaceful World tokens, also denoted as WORLD, have been wired into the official crypto donation wallet set up by Ukrainian authorities which could be airdropped.

Up until now, Ukraine has not officially revealed much details about this awaited crypto airdrop despite confirming its plans on Twitter.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.