Most of the Crypto Donation Campaigns for Ukraine turn out to be Scams

In a report by blockchain research firm TRM, it has been revealed that around half of the donations to war-affected Ukraine received in the form of cryptocurrency are scams. Many organizations and countries in a bid to provide humanitarian assistance have donated millions of dollars worth of crypto donations to Ukraine since the beginning of the Russian Ukraine conflict. Data from 50 distinct crypto-donation campaigns was collected that sent funds to humanitarian or military efforts in Ukraine. TRM researchers found out that scammers saw the surge in global attention and people's eagerness to donate to Ukraine as an excellent opportunity to run fake fundraisers. The blockchain research firm in its statement said: "Most of these scams were quickly identified as such by researchers and hosting providers, and their sites were taken down. They raised anywhere from a couple of hundred dollars to a couple thousand, before being taken down." Additionally, another report by Atlas VPN revealed that crypto blockchain hackers have stolen almost $700 million in just three months in 2022.