Ukraine and Russia both using Crypto to fuel war…..

According to a report by Elliptic, both Russia and Ukraine have been using cryptocurrency to secure funding for their war efforts. The analysis shows that the bulk of the donations, worth $212.1 million, went to support Ukraine. The report also highlights that pro-Russia groups raised around $4.8 million for the Russian military, with more than 10% of these donations coming from illicit sources. In contrast, less than 2% of the cryptocurrency donated to Ukraine originated from this kind of sources. Ukraine’s Minister of Digital Transformation Alex Bornyakov revealed that his country has been buying military equipment using crypto, and claimed that 60% of the suppliers accepted to be paid in digital currencies. More than 100,000 people have sent crypto to Ukraine, and donations varied “from one dollar’s worth, to millions of dollars.”

CleverRobot Newsdesk 27th February 2023

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