Kyiv Post alleges misappropriation of funds by Ukraine DAO

The Ukraine flag2,258 ETH (~$4.2 million at today's prices) was raised via the sale of an NFT of the Ukraine flag (attribution)
Ukraine DAO is a project that emerged shortly after the Russian invasion of Ukraine, aiming to raise cryptocurrency funds to support Ukrainians. Despite the name, it is not a DAO in the typical sense where token holders have voting rights in the project. The initiative has raised millions in donations, and at least $5 million has gone to the Ukrainian government or legitimate charities. The group's website claims $7 million has been donated in total.

However, the Kyiv Post has recently been asking questions about the organization. Earlier in April, the newspaper published an article claiming that the group had fabricated its claims that it was supported by Ukrainian governmental bodies. Now, they've published another article claiming that at least $500,000–$700,000 of funds seem to have been misappropriated.

One point of contention has been that the organization claims that 100% of money raised is donated, but in reality the project leader Alona Shevchenko takes a $5,000/month salary. This led to a split between Shevchenko and Pussy Riot's Nadya Tolokonnikova, who had once been active in promoting Ukraine DAO.

The Kyiv Post has raised questions about other transactions from the Ukraine DAO wallet, which went to other leaders of the project, or to centralized exchanges.

Shevchenko a London-based Ukrainian, who has in the past led the FreeRossDAO — a project to raise funds to support Ross Ulbricht, the jailed creator of the crypto-powered darknet Silk Road marketplace. Shevchenko's most recent project is Iran DAO, which claims to support "Iran's women-led revolution".