Hundreds of thousands of BTC are donated to Ukrainian military organization

Bitcoin donations to a pro-military Ukrainian group have increased dramatically over the last 24 hours.

Russian President Vladimir Putin launched a series of missile attacks against Ukraine early Thursday morning, describing it as a "special military operation." On three fronts, Ukraine is now facing a full-scale Russian invasion.

As Ukraine prepares for more attacks, blockchain analytics and compliance startup Elliptic said earlier today that $400,000 in bitcoin had been donated to "Come Back Alive," a Kyiv-based Ukrainian non-governmental organization that provides supplies to soldiers.

That number is still rising. The address has amassed $808,521 in bitcoin at current values, having transacted over 900 times on the Bitcoin network.

The majority of the transactions took place in the last week, with a total of $725,000 in bitcoin donations arriving in the wallet in 780 transactions just yesterday. On its website, the NGO provides a bitcoin address as one of the donation choices.

Elliptic added to a report detailing crypto donations to Ukrainian NGOs and volunteer organizations in order to track today's rise in bitcoin donations.

The firm discovered a number of wallets operated by Ukrainian NGOs, and discovered that the addresses received $570,000 in bitcoin payments in 2021.

Recently, Come Back Alive has seen an increase in Bitcoin donations, with the organization receiving over $200,000 in the second half of 2021.

Come Back Alive has used a variety of outlets to raise funds for Ukraine's military forces. It claimed on Facebook on Wednesday that it had raised 20.5 million hryvnia around $685,000 in a single day.

It also raised $300,000 through Patreon, though the website has subsequently taken down the NGO's profile and is investigating the campaign since it is prohibited from using the platform to fund the purchase of military weapons.