Bitcoin donations to the Ukrainian army are soaring after Moscow launched a large-scale offensive against Ukraine early Thursday.
New data from blockchain analytics firm Elliptic shows that over a 12-hour window Thursday, nearly $400,000 in bitcoin was donated to Come Back Alive, a Ukrainian nongovernmental organization providing support to the armed forces.
The fresh round of crypto donations capitalizes on a trend seen in recent weeks, in which donations totaling hundreds of thousands of dollars have flooded into Ukrainian NGOs and volunteer groups working to stave off a Russian offensive, according to Elliptic.
Activists have deployed the crypto for a variety of purposes, including equipping the Ukrainian army with military equipment, medical supplies, and drones, as well as funding the development of a facial recognition app designed to identify if someone is a Russian mercenary or spy.
