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Crypto fuels drone purchases in Russia and Iran: Report

The Hindu · · 398 words · By Reuters
open_in_new Read the original article: https://www.thehindu.com/sci-tech/technology/crypto-fuels-drone-purchases-in-rus…

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8 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

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“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.”
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wikipedia NEUTRAL — Iranian Russians or Persian Russians (Persian: ایرانیان روسیه; Russian: Иранцы в России) are Iranians in the Russian Federation, and are Russian citizens or permanent residents of (partial) Iranian na…
https://en.wikipedia.org/wiki/Iranians_in_Russia
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wikipedia NEUTRAL — Relations between the Grand Duchy of Moscow and the Persian Empire (Iran) officially commenced in 1521, with the Rurikids and Safavids in power respectively. Past and present contact between Russia an…
https://en.wikipedia.org/wiki/Iran–Russia_relations
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wikipedia NEUTRAL — Iranian Russians are Russians living in Iran or Iranians of Russian descent. Russians populate various regions, but mostly in those regions which had been under direct Russian military occupation in t…
https://en.wikipedia.org/wiki/Russians_in_Iran
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“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.”
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wikipedia NEUTRAL — On 24 February 2022, Russia invaded Ukraine, starting the largest and deadliest war in Europe since World War II, in a major escalation of the existing war between the two countries that began when Ru…
https://en.wikipedia.org/wiki/Russo-Ukrainian_war_(2022–pres…
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wikipedia NEUTRAL — Support for Russia in the Russian invasion of Ukraine has come from countries such as Belarus, North Korea, China, and Iran.
https://en.wikipedia.org/wiki/Support_for_Russia_in_the_Russ…
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wikipedia NEUTRAL — Ukraine is a country in Eastern Europe. It is the second-largest country in Europe after Russia, which borders it to the east and northeast. Ukraine also borders Belarus to the north; Poland and Slova…
https://en.wikipedia.org/wiki/Ukraine
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“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.”
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“Blockchain researchers at Chainalysis were able to trace the flow of crypto from individual wallets connected to drone developers or paramilitary groups to the purchase of low-cost drones and their components from vendors on e-commerce sites.”
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“Since Russia’s full-scale invasion of Ukraine in 2022, pro-Russia groups have raised more than $8.3 million in crypto donations, and drones have been among the specifically itemised purchases made with those donations, the report said.”
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wikipedia NEUTRAL — From the end of February 2014, in the aftermath of the Euromaidan and the Revolution of Dignity, which resulted in the ousting of Russian-leaning Ukrainian president Viktor Yanukovych, demonstrations …
https://en.wikipedia.org/wiki/2014_pro-Russian_unrest_in_Ukr…
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wikipedia NEUTRAL — A large part of the right-wing populist German party Alternative for Germany (AfD) supports Russia, its foreign policy, and its allies. The AfD has been positioning itself for years in favor of close …
https://en.wikipedia.org/wiki/AfD_pro-Russia_movement
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wikipedia NEUTRAL — Russophilia is the identification or solidarity with, appreciation of, or support for the country, people, language, and history of Russia. One who espouses Russophilia is called a russophile. Its ant…
https://en.wikipedia.org/wiki/Russophilia
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“Chainalysis was able to match transactions in crypto for between $2,200 and $3,500 to the exact price points of drones and drone components on e-commerce platforms, Fierman said.”
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“The report also found that Iran-linked groups are using crypto to procure drone parts and sell military equipment. It specifically highlighted a crypto wallet with connections to Iran’s Islamic Revolutionary Guard Corps purchasing drone parts from a Hong Kong-based supplier.”
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“To be sure, the total volume of crypto tied to drone procurement remains small compared with overall military spending, but the report argued that the blockchain could help authorities better trace purchases that might have otherwise remained murky.”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.