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Israeli Crypto-Based Aid Organization Says Nearly $200,000 Raised for October 7 Terror Victims

Israeli Crypto-Based Aid Organization Says Nearly $200,000 Raised for October 7 Terror Victims

Nearly $200,000 has been raised by a non-profit organization launched by members of Israel’s Web3 community. More than 30 Web3 companies have since joined the campaign while the accounting firm KPMG is said to be assisting with fundraising and distribution.

Web3 Companies Join Campaign

Crypto Aid Israel, a non-profit organization launched by influential leaders within the Israeli Web3 community, said nearly $200,000 has been raised as part of the Emergency Relief Initiative. Some of the funds raised have been distributed to organizations leading relief efforts for victims of the Oct. 7 attacks by Hamas.

According to a statement issued by the aid organization, more than 30 Web3 companies have joined the campaign. The accounting firm KMPG is said to be assisting with fundraising and distribution of the funds. The other companies contributing to the campaign include crypto wallet provider Zengo, Fuse, Wonderland and Psagot Equity.

Commenting on his organization’s achievement, Tim Freed, a senior leader within Crypto Aid Israel, said:

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.

Freed added that Crypto Aid Israel remains committed to transparency and is still determined to continue with its objective of assisting those directly affected by the Hamas attacks. Some of the non-government organizations that have already funding from Crypto Aid Israel include the Foundation for Advancing Citizens of Eshkol Regional Council, Zaka, Lev Echad by Or Hanegev veHagalil and Latet.

Although Crypto Aid Israel has committed itself to helping victims of the terror attacks, the organization’s platform has suffered serious phishing attacks. However, according to the statement, after the attackers briefly took the aid organization’s website this interruption was promptly addressed by Crypto Aid Israel’s hosting provider.

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