- A new report signifies that the massive donations received by Ukraine via cryptocurrencies were obvious frauds.
- The cryptocurrencies have played a significant role in the overall donations that Ukraine received.
- Around 33 varied crypto assets were made use of across more than 50 donation campaigns that the TRM analysed.
A new report signifies that the several donations campaigns for supporting Ukraine via cryptocurrencies were obvious frauds. However, the frauds only comprised a small number of the money raised since the Russian invasion roughly started.
The report further signifies that folks wishing to help in aid of Ukraine against the Russian invasion should be pretty alert and careful while carrying out donations and try not to fall prey to fraud.
However, as per the new report by TRM labs, the blockchain intelligence firm highlights that 50% of the crypto donation campaigns were obvious frauds that did not send the domination to the actual cause intended.
The report further broke down the campaigns into types also. These types included non-government organisations, non-state actors, private, for-profit campaigns, and official governmental or military campaigns. Out of them, non-government organisations were the most common that secured $48 million from the two leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH). And they represented over half of the 50 campaigns that were studied.
ДА ОКУУ - Украинанын крипто активдеринин кайрымдуулугу 100 миллион долларга жетти
Whereas official governmental or military campaigns just accounted for a small portion of the campaigns accounted for over $50 million secured.
The cryptocurrencies have played a significant role in the overall donations that Ukraine received. Ukraine received over $135 million in donations via cryptocurrencies in a span of five weeks. According to the report, around 33 varied crypto assets were made use of across more than 50 donation campaigns that the TRM analysed.
Cryptocurrency is a sector that often witnesses frauds and illicit actors. And the fraudsters tend not to leave a single opportunity to carry out their activities. It seems like the Russia Ukraine war came out to be an opportunity for them.
But no matter what, cryptocurrencies and crypto entities have indeed played a major role in aiding Ukraine. There were several campaigns that were prevalent while donating to Ukraine, but the country’s government also launched a website solely dedicated to Crypto Donations.
кызмат Украина үчүн крипто кайрымдуулук кампанияларынын 50% айкын алдамчылык болгонбу? Отчетту белгилейт биринчи пайда Монета Республикасы: Cryptocurrency, Bitcoin, Ethereum & Blockchain News.
Source: https://www.thecoinrepublic.com/2022/04/01/50-of-crypto-donations-campaigns-for-ukraine-were-obvious-frauds-specifies-a-report/