Chainalysis report: Russia and Iran-linked groups use cryptocurrency to fund military drone purchases
By
Reuters
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Summary
A new report from blockchain analytics firm Chainalysis reveals that groups linked to Russia and Iran are increasingly using cryptocurrency to finance the purchase of low-cost military drones and components. The report highlights how commercially available drones have become central to conflicts in Ukraine and West Asia, with crypto enabling these transactions amid sanctions. The article also notes that the U.S. has sanctioned Iran's largest crypto exchange over its links to the Islamic Revolutionary Guard Corps (IRGC).
Key quotes
· 3 pulledGroups linked to Russia and Iran are increasingly using cryptocurrency to finance the purchase of low-cost military drones and components
Commercially available drones have become central to conflict in Ukraine and West Asia
U.S. sanctions Iran's largest crypto exchange over IRGC links
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