Donations worth around $9 million in Ethereum arrived at Ukraine’s official crypto address after the government announced the airdrop on Wednesday.
However, Ukraine has abandoned its plans for an airdrop to cryptocurrency donors. Speculation was between two options, tokens or NFTs. Many initially did not believe when Ukraine’s official Twitter profile announced that the country planned to conduct a crypto airdrop.
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Ukrainian Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov announced the decision on Twitter yesterday, stating that he decided to cancel the distribution ‘after careful consideration.’ Instead, he added, the government will soon announce a series of NFTs to support military efforts in the fight against the Russian invasion.
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Ukraine announced a ‘reward’ for cryptocurrency donors on Wednesday after teasing its plans earlier this week. The announcement led to a flood of donations as cryptocurrency users rushed to send funds in an attempt to participate in the so-called snapshot (a predetermined time period), which was supposed to close yesterday at 5:00 PM. Data from Dune Analytics shows that the Ukrainian Ethereum wallet has collected about $9 million since the announcement.
Interestingly, a suspicious scam token called “Peaceful World” appeared yesterday in apparent hopes of deceiving airdrop speculators. Despite earlier reports, signs suggest that the token creators executed a trick to make it seem that the tokens, listed under the symbol WORLD, came from the Ukrainian wallet. Although the snapshot of the legitimate token was supposed to be yesterday, this did not prevent people from trading the listed token on Uniswap. It has already reached over $500,000 in volume.
The crypto community has shown solidarity with Ukraine during the past week amid the ongoing conflict in Russia. Data collected by Slowmist shows that over $54 million worth of cryptocurrencies have been raised to support the country’s aid efforts, most of which has been donated to government crypto addresses. Ukraine initially announced Bitcoin and Ethereum addresses over the weekend, but has recently started accepting other cryptocurrencies, including Dogecoin and Polkadot. Several initiatives have also been organized in the crypto and NFT communities, including an NFT drop featuring artworks from some of the most famous crypto artists, which raised $1 million in just 30 seconds.
