Cryptocurrency donations provide fast relief for earthquake victims in Turkey and Syria

Crypto has the same potential to provide fast relief for victims in Turkey and Syria. To date, we estimate roughly $5.9 million in cryptocurrency donations, demonstrating crypto’s utility as a quick way to transfer funds across borders. How to make crypto donations successful and impactfulWhen emergencies of this magnitude arise, there’s always a risk of unwittingly sending cryptocurrency to bad actors. So far, we’ve identified 18 suspected scam donation addresses tied to the earthquake crisis, but they’ve only received $502 in crypto funds to date. Yesterday, OFAC released Guidance on Authorized Transactions Related to Earthquake Relief Efforts in Syria in response to questions about how to provide assistance to Syrian earthquake victims while complying with sanctions.