This updated report outlines the surge in crypto donations to Ukraine and their dynamics, along with a list of verified donation links.
Since the Russian Federation’s invasion of Ukraine on February 24, 2022, there has been a huge swell of online donations made to Ukrainian fundraising programs from all over the world.
Of these, the total value of crypto donations is notable and likely the largest crypto donations drive in modern history. The initiative by the Ukrainian government and its supporting teams enabled the creation of official crypto donation portals for various currencies to be created almost immediately.
As of July 20, 2023, $225 million in crypto donations have been made to Ukraine.
Crypto donations continue
In 2022, donations more than tripled, rising from $53M in March to over $178M by September 20 of the same year.
When compared with traditional finance (TradFi) donations, where, for example, UAH 6 billion+ had been transferred to a special account of Ukraine’s armed forces by March 2, 2022, it’s clear that TradFi fundraising still outweighs crypto fundraising.
However, it is great to see that crypto is being embraced as a way to send aid to Ukraine.
How to protect donators from scams
While online fundraising is mostly well-intentioned, major online donation drives are often replicated by criminals, such as scammers publishing fake donation addresses and then disappearing with the funds.
To report activity related to scam donations, please go to Scam Alert, powered by Crystal Intelligence, to report suspicious addresses. Our team will assess the details to help identify bad actors who are detracting from the donation drive.
Crypto donations to Ukraine by type
We have seen a marked change in the cause to which donations are being made with more being funnelled to humanitarian aid currently – rising from 40% in February 2023 to 60%.
There has been a corresponding drop from 60% that was funnelled to the Ukrainian army in July 2022 to 40% this year.
Donations by currency
As of July 20, 2023, 37% was made in USDT, 35% in ETH (ether), 18% in BTC (bitcoin), 4% in DOT (Polkadot) and 3% in BUSD (Binance USD).
Crypto donations by currency as of July 20, 2023
Ukrainian vs Russian crypto donations received
Donations to the Ukrainian army were significantly higher than the support the Russian military received in both 2022 and 2023, with Ukraine receiving a total of $224,776,818.03 versus $2,177,238, 82 received by Russia.
However, it is notable that as the conflict continues, the overall number of donations is tapering off.
To learn more about how Crystal can transform your crypto compliance processes, contact us here.
ORIGINAL POST: March 4, 2022
UPDATE #1: March 10, 2022
UPDATE #2: May 12, 2022
UPDATE #3: September 30, 2022
UPDATE #4: July 19, 2023
UPDATE #4: Feb 25, 2026, to include mention of Scam Alert, Crystal Intellingence’s platform for reporting crypto scams
