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Crypto Firm Copper Allegedly Sent $4.2M to Sanctioned Russian Arms Dealer’s Wallet

UK-based crypto firm Copper Technologies reportedly transferred digital assets totaling more than $4.2m to a wallet associated with a Russian arms dealer. Subsequently, the individual faced US sanctions months later. The Guardian reported that these transfers were made to 29-year-old Russian national Jonatan Zimenkov in May 2021. The US sanctioned him in Feb. 2023 for allegedly assisting the Russian military in the Ukraine invasion as part of the “Zimenkov network.” This network was led by his father, Igor Zimenkov. Blockchain records show that Copper transferred over 1,700 units of Ethereum, valued at over $4.2m in May 2021, to Zimenkov.

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