Ukrainian volunteer group raises $4 million in bitcoin since Russian invasion, research shows

FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo

LONDON (Reuters) - A Ukrainian volunteer group that provides equipment to the country's army has received over $4 million in bitcoin donations since Russia launched its invasion on Thursday, according to blockchain analysis firm Elliptic.

London-based Elliptic said earlier this month that donations to Ukrainian volunteer and hacking groups had soared as Russian troops massed near the border. Since the invasion, however, it has tracked transfers of much larger sums to these groups.