Crypto Firms Rally to Aid Typhoon Victims in Vietnam

Crypto firms have promised to airdrop tokens to assist the typhoon victims as the strongest storm to hit Southeast Asia this year advances into Vietnam.

On September 16, Binance will begin issuing tokens, while on September 18, KuCoin will begin distributing donated tokens.

Typhoon Yagi is said to have killed over 250 people in Vietnam on September 13. According to the state’s emergency management organization, 82 individuals are still unaccounted for, and over 820 people have been injured.

Crypto exchanges Binance and KuCoin have declared that they will airdrop cryptocurrency tokens to their users who live in the impacted areas as a way of helping the typhoon victims.

Binance and KuCoin promise affected users’ tokens.

Binance’s charitable division announced to Cointelegraph that it would contribute $1 million in BNB$546 tokens for the victims of the storm in Vietnam.

According to Binance, the tokens will be distributed to registered users in the incident-affected zones. If residents of the 25 northern Vietnamese cities most hit by the hurricane have completed a proof-of-address (POA) registration by September 10, they will get $50 in BNB tokens.

According to Binance Charity, individuals who cannot finish the POA registration before September 10 will get an airdrop of $20 BNB tokens into their wallets. As part of the requirements, users must register on the exchange by September 10 and finish the POA by September 30.

According to Binance, the victims will get the first round of donations on September 16.

In addition to Binance, KuCoin, a cryptocurrency exchange, declared it will airdrop 10,000 KuCoin KCS$7.82 tokens, or roughly $80,000, to anyone affected by typhoons. According to the cryptocurrency exchange, anyone in Vietnam hit by typhoons will receive $20 KCS tokens.

According to the exchange, user identification will be based on back-end access logs. Vietnamese customers who completed transactions between August 1 and September 12 and met specific KYC verification requirements on the exchange will be qualified for the airdrop, according to KuCoin.

According to KuCoin, the gifts will begin to be distributed on September 18.

Cryptocurrency donations offer prompt assistance during emergencies.

The Director of Research at Chainalysis, Kim Grauer, emphasized in 2023 that donations made in cryptocurrencies provide a quick and easy means of giving money during emergencies.

She clarified that the capacity of cryptocurrency to enable instantaneous, cross-border transactions makes it a perfect instrument for generating capital and transferring it quickly to the most urgent locations.