The Ukrainian government announced the Airdrop, which was intended to raise money for the struggling country. Unfortunately, the plan had to be abandoned after 12 hours. However, a new one has emerged in its place.
Potential fraud is the reason
Ukraine’s Deputy Prime Minister Mykhailo Fedorov announced on Wednesday, March 3, that the token drop plan, which in turn was announced a day earlier, had to be cancelled. The reason is the threat of fraud, as at the same time, unknown creators created 7 billion tokens called “Peace World Tokens”. They gave an impression that it was an official token, intended for the said Airdrop.
The fake Airdrop was activated earlier than the official time provided by the Ukrainian side. It was quickly tracked down via the Etherscan app. Its disclosure may have helped to counteract the scam which was also an attempt to prey on the tragedy of Dnipro residents.
The donation drop was supposed to be a response to support the crypto community, which is helping Ukraine in large numbers in their fight against the Russian invaders. For this purpose, a new initiative called Snapshot was made, scheduled for Thursday, 6 p.m. Kiev time. The government raised close to $7 million in a matter of hours. It was a huge collection of small donations. Most of them are estimated to be between 0.0001 ETH and 0.01 ETH, or between $0.30 and $30.0.
NFT in return
After the government’s decision, the crypto community was divided and even felt cheated. Fortunately, the situation has been clarified, and Mykhailo Fedorov has decided to change the way he repays donors. According to the initial plan, he is going to raise more money by issuing non-transferable tokens (NFT). Thus, Ukraine has completely withdrawn from the idea of using any newly created transferable tokens to organize collections. The exact details of the introduction of NFT products into circulation are not yet known. However, the situation in Ukraine is so dynamic and the needs are high that we should soon learn the details.
Massive support for Ukraine
Since the Ukrainian government announced the possibility of supporting its operations, nearly $40 million in cryptocurrencies have already been raised after a little over a week since the war broke out. Initially, donations could be made in Bitcoin (BTC), Ethereum (ETH) and Tether (USDT). However, after an intervention and a sizable donation from Gavin Wood, which we wrote about in an article titled: “Polkadot founder Gavin Wood donates $5 million to Ukraine DOT”, the address in Polkadot (DOT) was also launched. Thus, the global crypto community intensively supports Ukraine’s efforts for its full liberation.