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Crypto Aid Israel receives $185k from over 30 Web3 firms for emergency relief

Crypto Aid Israel receives $185K from over 30 Web3 firms for emergency relief

The group Crypto Aid Israel, made up of prominent Israelis in the crypto community and also comprising organizations such as 42Studio and MarketAcross, is making strides toward its goal of helping Israelis who have been impacted by the recent spate of Hamas attacks. 

The Web3 and crypto communities have shown their strength and togetherness by contributing over $185,000 (about 700,000 NIS) to the community-backed effort, as per the latest information shared with Finbold on October 20.

In addition, over 30 businesses have banded together to back our initiative, with major players like accounting powerhouse KPMG lending a hand with distributions and fundraising. Companies like Zengo, a cryptocurrency wallet service, Fuse, Wonderland, Psagot Equity, and many more are also making significant contributions to the campaign via either public relations or financial means.

Crypto Aid Israel has recently announced that two rounds of assistance disbursement to various frontline groups have been finalized. These funds, totaling 200,000 NIS, are meant to help individuals in need in a significant way. 

NGOs which received Crypto Aid Israel funding 

The following NGOs have received Crypto Aid Israel funding, Foundation for Advancing Citizens of Eshkol Regional Council: provides important services and goods to Israel’s southern communities. 

Funding supported the transportation and lodging requirements of individuals who live near Gaza but are not legally recognized as such by Israel. This aid helps impacted individuals to seek safety and refuge.

Zaka, is an Israeli volunteer NGO that provides search and rescue, disaster response, and emergency medical assistance following significant catastrophes and crises. Funding was used for securing critical medical equipment and ceramic vests for Zaka’s volunteers who are operating on the front lines. 

Another is Latet, which is an Israeli NGO that fights poverty and provides food security and social help to poor areas. 

“We believe that while modest initially, the crypto channel is an important, speedy, and innovative one and will enable new contributors to join our global ecosystem and support Israel in such an important hour,“ added Crypto and New Digital Initiatives advisor to Latet’s board, Eyal Gura.

Tim Freed, a senior leader within Crypto Aid Israel, commented: 

“We are deeply humbled by the outpouring of support from the global crypto community. Together, we have made significant strides in our mission to assist those affected by the recent wave of Hamas terrorism. The completion of two rounds of aid distribution shows how crypto can be used as a force of good in the world. 

Crypto Aid Israel faces phishing attacks

Notably, Crypto Aid Israel has experienced significant phishing assaults, highlighting the continued need for increased vigilance in light of the current tough conditions. 

Furthermore, a temporary interruption in the functionality of their website transpired, with the hosting provider swiftly resolved this disruption in response to concerns over possible fraudulent operations impersonating Crypto Aid Israel, demonstrating our steadfast commitment to transparency and validity.

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