‘Help Ukraine’ Scams Appear as Country Seeks Crypto Donations, Report Reveals

Scams have started exploiting the desire of many in the crypto community to support Ukraine’s efforts to withstand Russia’s military assault and help its citizens endure the conflict. As the country is raising millions in bitcoin, a report has indicated that fraudulent schemes luring donors to “help Ukraine” with cryptocurrency are on the rise.

Crypto Scams Entice Prospective Donors to Support Invaded Nation

People who wish to send cryptocurrency to the Ukrainians defending their country against a military operation launched by Russia, may fall into a trap set by phishing websites, forum posts, and emails, Bleeping Computer has warned in an article.

The tech news outlet has identified a number of new scams enticing crypto users to “help Ukraine” by donating bitcoin and other digital currencies to addresses different from those provided by the government in Kyiv and Ukrainian NGOs.

The report reveals that other cybersecurity and ransomware researchers such as Malware Hunter Team and Jake Jcybersec_ have found more .org and .com domains established by scammers such as “Ukraine-donate,” “Ukraineglobalaid” and “Ukrainewar.supportWhat could potentially increase the effectiveness of these scams is that they often issue emotional appeals that targeted audiences might find hard to resist, the publication notes. Add to that the fact that the Ukrainian government itself and local volunteer groups have been actively seeking donations in various coins to fund their defense effort:

At the same time, the crypto community has also responded to the conflict by supporting humanitarian efforts. The world’s leading digital asset exchange, Binance, announced this week it’s donating $10 million to help the Ukrainian people. The assistance of third parties is coordinated through the recently launched crowdfunding initiative, “Humanity First – Ukraine Emergency Relief Fund.”