Published: June 3, 2026 • 7:11 AM IST · Updated: June 3, 2026 • 7:15 PM ISTBy TheBriefWire Editorial Team
Key points
Groups linked to Russia and Iran are increasingly using cryptocurrency to finance the purchase of low-cost military drones and components, according to a new report from blockchain analytics firm Chainalysis.
U.S. sanctions Iran's largest crypto exchange over IRGC links Commercially available drones have become central to conflict in Ukraine and West Asia, but because low-cost drones are widely available on global e-commerce platforms, it is often challenging for authorities to track who is behind the purchases and what their intent with the products might be.
While most drone purchases are made using traditional financial rails, procurement networks are increasingly intersecting with the blockchain, the public digital ledger on which cryptocurrencies are based, Chainalysis found.
That ledger allows investigators to map the path of a transaction from its origin to its destination.
Blockchain researchers at Chainalysis were able to trace the flow of crypto from individual wallets connected to drone developers...