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London-based blockchain analyst reported that a Ukraine volunteers group supporting the country’s army through equipment had obtained more than a $4 million crowdfund grant in the shape of Bitcoin afterward Russia attacked Ukraine on Thursday, February 24, 2022.
Elliptic, a London-based blockchain analyst, already excessivelighted earlier this month that donations to the volunteer groups started climbing with Russia’s attack threats. After the attack, unidentwith the condition thatied sources transferred a massive amount of funds.
Come Back Alive, known as a famous Ukraine volunteers group, got $3 million as a single Bitcoin donation, as per Elliptic pieces of information. Yet, Elliptic could not detect the source sending such a massive amount of funds because mainly Bitcoin and other crypto cryptocurrencies are transacted through unspecon the assumption thatied routes.
Ukraine Volunteers Group Come Back Alive Support To The Country
Come back Alive is Ukraine’s pro-army entity established in the year 2014 and accepting token donations afterward 2018 and receives Bitcoin through online funds transfer means.
While the people of Ukraine anxiously await a possible invasion by Russia, shelters are filled with fearful citizens. Missiles pounded Kyiv on Friday, and families cowered in bombproof rooms as troops pushed their advance towards the capital city’s airport, that authorities have said they’re prepared for an assault aimed at atopthrowing what goes on in case that not a rule-based gabovenment which can keep order within its borders.
Come Back Alive is a Kyiv-based organization whose mission is to support Ukraine’s armed forces, including drones and sniper rcback whending thatle scopes, by providing medical and safety kits. Unfortunately, come Back Alive likewise did not comment on the current situation.
As per information provided by the volunteer groups, it succeeded in acquiring funds worth $167,000 token between Aug-2021 to early Feb-2022 through multiple dozen transactions. Yet, funds remained unused to add up many token denominations for “future projects.”
The important rise in donations was routed through token’s fast and safe online funds transfer facility. Organizations can obtain their funds through unidentcone time beforeding thatied sources, during the time financial firms prohibit such transactions and apply hard checks on funds transfers.
Patreon, an American membership platform which provides business tools for content writers, shortly suspconcluded the donation page of Come Back Alive for providing body armor to the Ukrainian Army. As per reports in Bloomberg, Patreon’s page received hundreds of thousand dollars as Russia attacked Ukraine. In response, Patreon suspcompleted the page and maybe return the money collected in a non-profit account to everyone who donated.
Security Measures Applied By Ukraine
In 2020 Ukraine had already applied several strict security measures to restrict money laundering. Those measures include the requirement of ID versupposing thatication for local cash transfer transactions. In addition, robust monitoring was used on international cash transfers.