⭕️ Crypto used by Russia & Iran-associated groups to fund drone purchases
Groups associated with Russia and Iran are increasingly turning to cryptocurrency to help fund the purchase of inexpensive military drones and related components, according to a new report from blockchain analytics firm Chainalysis.
Although most drone purchases still rely on traditional financial systems, Chainalysis found that procurement networks are increasingly overlapping with blockchain technology, the public digital ledger underpinning cryptocurrencies. This ledger enables investigators to trace transactions from their source to their final destination.
Researchers at Chainalysis were able to follow cryptocurrency flows from individual wallets linked to drone developers or paramilitary groups to purchases of low-cost drones and parts from online vendors.
READ FULL ARTICLE: This article originally appeared on The Cradle
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