According to Chainalysis, Russia has received more than $2 million in cryptocurrency donations.
Chainalysis reports that some pro-Russian groups have raised more than $2 million in crypto money to fund Russia’s war against Ukraine.
According to Chainalysis’ report, $2.2 million in donations in Bitcoin (BTC), Ethereum (ETH) Tether (USDT), Litecoin (LTC) and Dogecoin (DOGE) were raised to provide equipment and logistical support to soldiers in the Donbas region of Ukraine.
It was stated that crypto donations were used to procure weapons, drones, steel vests and communication devices.
Chainalysis said paramilitary groups used social media to buy weapons. This Russian request for help was usually made in code.
First aid kits and medical supplies are also provided in a similar way.
Although the aid remains relatively small, Chainalysis noted that these aids could significantly increase Russia’s effectiveness as the Russian ruble depreciates.
The total value of crypto money and NFT aids received by Ukraine has exceeded $ 100 million.
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