British digital asset company allegedly sent $4.2 million in crypto assets to Russian address, later faced sanctions from US: Report

A British digital asset company reportedly transferred millions of dollars in virtual currency to the wallet of an alleged Russian arms dealer who was later sanctioned by the US government.

Cryptocurrency firm Copper Technologies allegedly transferred more than $4.2 million in digital assets to the cryptocurrency wallet of Israeli-born Russian Jonathan Zimenkov, according to a new Guardian report.

The move reportedly took place about 19 months before Zimenkov faced U.S. sanctions for his alleged involvement in Russia's invasion of Ukraine.

In a February 2023 press release, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced the imposition of sanctions against Jonathan and his father, Igor Zimenkov. OFAC said both father and son were involved in “multiple transactions involving Russian cybersecurity and overseas sales of helicopters” while facilitating “Russian defense sales to third-country governments.” Ta.

On the same day, OFAC revealed an Ethereum wallet belonging to Jonathan Zimenkov.

Copper reportedly transferred approximately 1,700 Ethereum (ETH) to the wallet in two separate transactions in May 2021.

A Copper spokesperson said:

“Copper takes its compliance, legal and regulatory obligations very seriously and has acted in full compliance with all applicable regulatory standards, including all applicable sanctions prohibitions in the UK. ”

As of this writing, ETH is trading at $4,056, indicating that the transferred Ethereum stash is now worth $6.89 million.

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