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UK Digital Asset Firm Allegedly Transferred $4,200,000 in Crypto to Russian Address Later Sanctioned by US: Report

n70products by n70products
March 13, 2024
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UK Digital Asset Firm Allegedly Transferred $4,200,000 in Crypto to Russian Address Later Sanctioned by US: Report
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A UK digital asset agency reportedly transferred thousands and thousands of {dollars} in cryptocurrency to a pockets of an alleged Russian arms supplier who was later sanctioned by the US authorities.

In accordance with a brand new Guardian report, the cryptocurrency agency Copper Applied sciences allegedly transferred greater than $4.2 million in digital belongings to a crypto pockets belonging to Jonatan Zimenkov, an Israeli-born Russian nationwide.

The switch reportedly occurred about 19 months earlier than Zimenkov confronted US sanctions for his alleged function in Russia’s invasion of Ukraine.

In a February 2023 press launch, the U.S. Division of the Treasury’s Workplace of International Property Management (OFAC) introduced the imposition of sanctions in opposition to Jonatan and his father Igor Zimenkov. The OFAC said that the daddy and son duo had been concerned “in a number of offers for Russian cybersecurity and helicopter gross sales overseas” whereas facilitating “Russian protection gross sales to third-party governments.”

On the identical day, the OFAC revealed an Ethereum pockets belonging to Jonatan Zimenkov.

Copper reportedly despatched the pockets about 1,700 Ethereum (ETH) in two separate transactions in Could of 2021.

Says a Copper spokesperson,

“Copper takes its compliance, authorized and regulatory obligations very significantly, and has acted in full compliance with all relevant regulatory requirements, together with all relevant sanctions prohibitions, within the UK.”

At time of writing, ETH is buying and selling for $4,056, indicating that the transferred Ethereum stash is now price $6.89 million.

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Disclaimer: Opinions expressed at The Each day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any loses you might incur are your duty. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please notice that The Each day Hodl participates in internet online affiliate marketing.

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