Web3 Officials Launches ‘Crypto Aid Program’ to Support Israeli War Victims
Despite Israel having a robust and well-organized army, the country was invaded by the Hamas Terrorist group on Saturday, October 7, in the morning hours. The unprecedented attack dates back to an unresolved dispute between Israel and Palestine.
The report indicates that the Hamas gunmen have claimed hundreds of lives and beheaded several soldiers. The horrific scene and footage shared on social media have challenged various humanitarian groups to step up and assist the victims.
Web3 Companies to Send Crypto Aid to Israeli War Victims
On Monday, October 9, key players in the crypto sector established the Crypto Aid Israel program. Primarily, the crypto investors agreed to donate substantial funds to support the Israelis affected by the Hamas invasion.
The program has been designed to allow the well-wishers to donate their funds using 12 crypto assets. Despite the devastating violence, funds generated from Crypto Aid Israel will be distributed to the victims accordingly to support them in recovering and rebuilding their lives from the predicament.
Besides the proposed recovery plan, the crypto donations generated from the program will be distributed to the existing not-for-profit firms to provide reliefs to the misplaced Israelis.
The investors stated that the Hamas struck Southern Israel unaware, forcing hundreds to flee to nearby towns such as Tel Aviv and other regions. The misplaced individuals have relied on relief food, water, and clothes for the past few days.
Impact of Hamas Attack
A recent statistic shared by the U.N. Office for the Coordination of Humanitarian Affairs (OCHA) demonstrated that over 187,000 people have been misplaced. The intense bombardment has challenged top executives from best-performing crypto firms in Israel to form an alliance to rebuild a resilient future for the affected Gaza residents.
The report illustrated that officials from 42Studio, Collider Ventures, CryptoJungle, and MarketAcross joined the rest of the world to support the affected Israeli recovery from the attack. The officials have also engaged Israeli authority to ensure fair and equitable distribution of the donations.
A statement from Kim Bazak, a prominent crypto entrepreneur, revealed that the crypto donation aimed at encouraging the Web3 community to support the Israeli. Bazak admitted that crypto donation has become the best fundraising method to support victims struck by disasters.
The investors added that the community has been sending their contributions through crypto since Sunday October 8.
Israeli Authority Teams Up with Humanitarian Groups to Support Hamas Victims
As the violence heightened, the Ministry of Defence ordered the complete siege of Gaza in response to the ongoing string of attacks. The new directives will impact the cutting of water, electricity, and food supply in Gaza.
The devastating situation in Israel has inspired several charity groups from Arab to join campaigns to end the fights. The report indicates that the Arab-based humanitarian groups have launched a program for sending crypto donations. This program has several digital wallets, allowing the community to send gifts directly to specific addresses.
According to a report, the Arabic humanitarian group has raised crypto assets worth thousands of dollars. Even though the charity groups are yet to develop a solid solution for transferring the crypto assets to local fiat currencies, the humanitarian groups are urging the public to support the war victim.
Besides, the support from the relief group report indicates that the Israeli government is working closely with blockchain firms, including Chainalysis, to track any fund transfer linked to the Hamas group. Currently, the Israeli government is engaging crypto firms, such as Binance, to assist in freezing any crypto transfer tied to the Hamas group.
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