Ukraine has received over $70 million in cryptocurrencies since the start of the Russian-Ukrainian conflict, providing the nation with funds for military equipment and humanitarian assistance. The figures came from a Feb. 24 report by blockchain data platform Chainalysis, which found the majority of the funds to have come in the form of Ether ( ETH ) and Bitcoin ( BTC ). ETH donors led the way with $28. 9 million given, while donors of BTC and Tether ( USDT ) chipped in $22. 8 million and $11. 6 million, respectively. Donations have also come in the form of nonfungible tokens, such as UkraineDAO’s auction of a Ukrainian flag NFT thasold for $6. 1 million. Around 80% of the total $70 million donated came in the first few months of the war, with the speed of cryptocurrency payments fast-tracking the country’s ability to respond to the Russian invasion, Ukrainian deputy digital minister Alex Bornyakov explained in an interview with Yahoo Finance on Feb. 24: Bornyakov added that the Crypto Fund Aid For Ukraine was an “absolute success” and that he was blown away by not only the amount of donations that came through but the ease at which the digital ministry could access those funds for Ukraine’s defense. Alona Shevchenko, co-founder of Ukraine DAO, also explained to Yahoo Finance that cryptocurrencies provided a solution when restrictions were imposed on the Ukrainian central banking system: According to an August tweet bMykhailo Fedorov, Ukraine’s vice prime minister and minister of digital transformation, much of the cryptocurrency payments to the digital ministry have been used to fund the country’s military equipment, armor clothing and a range of vehicles and medicine . With $54 M raised by @_AidForUkraine , we've supplied our defenders with military equipment, armor clothes, medicines and even vehicles. Thanks to the crypto community for support since the start of the full-scale invasion! Donation by donation to the big victory. Report below. pic. twitter. com/lifHAP8R4f The increased reliance on cryptocurrencies in Ukraine looks to have increased adoption in the country, with a September report by Chainanalysis finding Ukrainians to be the third-highest adopters , behind Vietnam and the Philippines. Related: What the Russia-Ukraine war has revealed about crypto However, pro-Russian military groups have also used cryptocurrency to crowdfund their war efforts, including using crypto donations to fund military purchases, spread disinformation and create pro-invasion propaganda, according to Chainalysis. The 100 groups have received a total of $5. 4 million over the course of the war, however, incoming donations have fallen considerably since July. It is unclear what impact sanctions had on this downtrend, but a 10th package of sanctions against Russia was introduced on Feb. 24. Meanwhile, a recent crime report by Chainalysis found that of the $456. 8 million total ransomware payments in 2022, a majority of these funds were taken by “actors” believed to be based in Russia. Chainalysis explained that such attacks are often utilized by bad actors for political agendas, such as that of Russia-based pro-conflict ransomware group Conti, which reeled in $66 million from victims in 2022 and has previously announced its “full support” of the Russian government. .