Reports reveal that Copper Technologies, a UK-based crypto company, transferred over $4.2 million worth of digital assets to a wallet associated with a Russian arms dealer.
On-chain data shows that these transfers occurred in May 2021, predating any sanctions against Zimenkov.
Jonatan Zimenkov, a 29-year-old Russian citizen, faced US sanctions in February 2023 for allegedly supporting the Russian military during the Ukraine invasion as part of the “Zimenkov network” led by his father, Igor Zimenkov.
The US Treasury’s Office of Foreign Assets Control (OFAC) indicated that the network, including Zimenkov, had been operational for years before the sanctions were imposed.
Blockchain data on Etherscan confirms that Copper sent over 1,700 units of Ethereum, valued at over $4.2 million, to Zimenkov in two transactions on May 28, 2021. The first transaction includes the transfer of 782.8153 ETHs. Meanwhile, during the second transaction, 989.7569 ETHs were transferred.
Zimenkov’s father was accused by US authorities of spearheading a network involved in circumventing sanctions, with Copper allegedly being part of it. However, Copper was not found to have violated any laws or regulations during the transaction.
The purpose of the transaction remains uncertain, as the recipient’s identity is obscured in blockchain records, only revealing a digital currency address.
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