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Ukraine government cancels cryptocurrency airdrop and announces NFTs

2 min read


Ukraine’s cryptocurrency airdrop has been officially cancelled, as announced by Minister Mykhailo Fedorov. Instead of distribution, Ukraine will release non-fungible tokens (NFT) to support the military.

The distribution of cryptocurrencies was announced on Wednesday (2) on the country’s official profile on Twitter. According to the government, everyone who donated digital assets to the country’s official wallets by March 3 at 18:00 Kiev time would receive the airdrop.

As expected, the news was not well received by users. Many took to Fedorov’s profile accusing the government of carrying out a rug pull. 

Airdrop canceled and users complain

In his message, Fedorov thanked the support of the cryptosphere, which has already sent over $30 million in cryptocurrency donations.

Afterwards, the digital transformation minister announced the cancellation of the airdrop and said that NFTs would be issued. However, Fedorov stated that Ukraine does not intend to issue NFTs, which left a mixed message. After all, how does the government intend to launch the tokens?

Because of the cancellation of the airdrop and the lack of information, Fedorov’s followers complained and accused him. Many have accused the government of promoting a rug pull, a popular scam that involves running off with user funds.

However, Ukrainian wallets have not promised returns, as these are just donations. As such, the term is relatively imprecise and does not constitute a scam. Other users, however, have given suggestions on NFT topics, from military works to NFTs with natural landscapes of the country.

Unknown token scam

If the Ukrainian government did not act in bad faith, rug pullers took advantage of the airdrop from the beginning. According to Etherscan, a token called Peaceful World (WORLD) was flagged as a potential scam.

After the scam was identified, Etherscan classified the world’s tokens as “deceptive”, meaning the tokens could be spam or phishing.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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