Finland to donate seized crypto to Ukraine

The Finnish government plans to donate Bitcoin (BTC) seized from criminal investigations such as drug trafficking to help the people of Ukraine, according to a report from Helsingin Sanomat.

Recently, Finnish customs authorities were reportedly told by the court to hand over $78.5m, equating to 1,981 BTC to the state.

Nearly $70m is said to have be donated to Ukraine from such illegal activities, with the government outlining it as exceptional additional assistance toward the suffering country.

In February, Finland made the decision to provide €14m ($14.76m) to Ukraine (alongside humanitarian aid and development funds). The new contribution will be additional.

Earlier this month, opportunist hackers and scammers posing as charities attempted to steal funds by creating fake airdrop sites and used other means to obtain donations by inventing fake tokens named ‘STOPWAR’ or ‘WORLD’.

Authorities worry that the cryptocurrency may go back into the hands of criminals and the Finnish government is in the midst of deciphering how exactly to donate the large sum of funds. The decision will be discussed by Finland’s cabinet with a final consensus reached towards the end of May.

Ukraine has received millions of dollars in crypto donations since Russia launched its troops in the country. Reports have shown that $100m in donations has been sent in crypto donations alone, and that’s not including NFT sales.

Donations have helped those fleeing from the events and provided support to the Ukrainian military. Earlier this year, Ukraine’s vice prime minister shared an image and a tweet explaining how the funds have helped.

If you want to use crypto in the meantime, we recommend turning to Bitcasino, 1xBit or FortuneJack.

Source

Updated: 04/28/2022 — 15:00