Since the beginning of Russia's full-scale invasion last year, Ukraine has attracted over $225 million in cryptocurrency from supporters worldwide, while funds raised by Russian military fundraisers amounted to only a few million.

According to a new report shared exclusively with CoinDesk by the blockchain intelligence firm Crystal Blockchain, the cryptocurrency donations have reached approximately $225 million since the start of Russia's invasion. This represents just a small portion of Ukraine's overall fundraising efforts in fiat currency, but the contribution from cryptocurrencies was directed towards the purchase of weapons, ammunition, medical equipment, and other critical war supplies.

One year ago, in June, the total amount of crypto donations was around $135 million, indicating that cryptocurrency users worldwide continued to support Ukraine throughout the past year. However, the monthly donation amounts stagnated in late 2022 and 2023, never surpassing $10 million per month since last May.

March 2022 was the most fruitful month for donations, as the war had just begun, and the global support for helping Ukraine fend off Russia's invasion was at its strongest.

Meanwhile, Russia's military and paramilitary units have also been using cryptocurrency to receive material support from Russians and sympathizers abroad. These fundraising efforts have been much more clandestine, as previously reported by CoinDesk.

According to experts' data, the majority of donations, totaling $83 million, were made in the stablecoin USDT, $79 million in Ethereum, and $41 million in Bitcoin.