State and non-state actors linked to Russia and Iran are increasingly using cryptocurrency to acquire low-cost, commercially available drones for ongoing conflicts, a new report published on Monday said.

Blockchains Powering Drone Warfare?

Sanctioned entities, including Iran’s defense sector and aligned proxies, are turning to cryptocurrency to procure drone components restricted by export controls, according to a new study by blockchain analytics firm Chainalysis.

Iran’s Shahed drone program, widely deployed in the ongoing conflict with the U.S. and Israel, relies “heavily” on components sourced through third-country procurement networks, the report added.

The report said that the…

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