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On Thursday, Ukraine’s government announced the cancellation of a crypto airdrop intended to raise funds for the country’s defense against Russia’s invasion last week. Instead, the government has said that it would issue non-fungible tokens (NFTs) to earn revenue to maintain its military forces.

Ukraine’s Vice Prime Minister, Mykhailo Fedorov, notified the public on Thursday that the country has decided to postpone an airdrop for crypto contributions planned on Tuesday and instead aims to generate more cash through the sale of NFTs.

Ukraine‘s administration anticipated the airdrop to begin yesterday (Thursday) at 6 p.m. Kyiv time. However, the crypto airdrop program took an unexpected turn on Wednesday, when scammers began targeting Ukraine’s fundraising efforts by generating a counterfeit coin that appeared genuine. In addition, scammers constructed a phony token that seemed the legitimate airdrop token for bitcoin contributors.

The fake airdrop began over an hour before the officially reported time, but Etherscan soon identified it as a forgery. Fedorov later claimed that Ukraine has canceled the crypto airdrop initiative and would instead employ NFTs to boost the country’s military forces. Although the airdrop program has been discontinued, it was an effective marketing technique in obtaining further donations. Following the announcement of the airdrop, the official Ukrainian crypto wallet for contributions allegedly received $7 million in donations.

Though the minister did not explain why the government halted the airdrop, some in the crypto community were unhappy, and others considered it unusual.

Ukraine Benefits from Cryptocurrency

According to Chainalysis, Ukraine is one of the world’s top cryptocurrency adopters, trailing just Vietnam, India, and Pakistan. As Russia’s assault proceeds, Ukraine has begun taking cryptocurrency payments for its troops. The adoption of cryptocurrency in the country demonstrates the technology’s benefits.

Ukraine announced the airdrop initiative on Wednesday, following tremendous support from the crypto community and donations of millions of dollars in digital assets.

Ukraine received crypto contributions in Bitcoin, Ethereum, and other cryptocurrencies in the previous week. On February 26, the Ukrainian government stated that it would accept cryptocurrency donations. The government has received more than $10 million in Bitcoin and $16 million in Ethereum, respectively. The total amount of cryptocurrency funds raised has surpassed $50 million.

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