As Russia continues to invade Ukraine, the Ukrainian government cancelled a planned crypto airdrop. It has been a victim of devious hackers again.
Twitter users identified the newly minted token Peaceful World (WORD) token distribution from Ukraine’s Ethereum wallet as a potential phishing scam.
Hackers try to spoof WORD
Ukraine’s Ethereum wallet seemed to distribute a newly minted token, but suspicions have emerged that hackers were trying to spoof the token in a scam.
Today’s announcement was made by Mykhailo Fedorov (the country’s deputy prime Minister and minister of digital transformaion) via Twitter via his verified account. He tweeted:
After careful thought, we decided not to airdrop. There are increasing numbers of people who want to support Ukraine in its fight against aggression every day.
NFTs to help a country’s armed forces
Fedorov claimed that Ukraine would issue non-fungible tokens to help its armed forces but he pointed out that the country does not have plans to do so.
Officially, the country announced the airdrop Wednesday. After that, government officials did not release any further information or make any announcements about the event which was originally scheduled for Thursday.
Reward donors was the goal of Drop
Yesterday’s announcement indicated the purpose of the initiative was to reward crypto donors. The eagerly awaited event was cancelled due to the intervention by evil third parties.
Total crypto donations to Ukraine: $30M
Ukraine has raised about $30 million since accepting crypto donations around a week back, Fedorov’s most recent Telegram update shows.
They have raised money using Bitcoin, Ethereum and Polkadot as well as other altcoins such Dai, Candle and Dogs of Elon. Tether, USDC and USDC are other stablecoins that are being used to raise funds.
EtherscanAccording to data, the official receipts of crypto assets by the Ukrainian Ethereum wallet exceed $15.9 million. Ethereum (ETH) accounts for only $8.1 million. Rest of the funds are in the form above-mentioned altcoins or stablecoins.
Ukraine was at forefront of crypto adoption
Ukraine was a pioneer in crypto before the invasion. It was also the first country to ask for crypto donations. The hryvnia crashed, and the invasion also negatively impacted electronic payment.