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A UK crypto firm allegedly used to dodge sanctions report edly sent $4.2 million in crypto to a known member of an international Russia n arms dealing network before he was sanctioned by the US.  Crypto infrastructure firm Copper reportedly sent millions to the crypto wallet of Jonatan Zimenkov, an Israel-born Russian national accused by the US Office of Foreign Assets Control (OFAC) of helping his father Igor Zimenkov, avoid sanctions and run an arms dealing collective. Igor Zimenkov is alleged to be the leader of the Zimenkov network, which is accused by the OFAC of selling military equipment to third-world countries on Russia’s behalf while supporting defense entities key to Russia’s military-industrial complex. “Igor and Jonatan Zimenkov both had direct correspondence with sanctioned Russian defense firms. They have additionally been involved in multiple deals for Russian cybersecurity and helicopter sales abroad,” the OFAC sanction reads. Screenshot shared by th...

The National Police of Ukraine, with the support of Europol, apprehended a so-called “cryptojacker” for breaching cloud accounts and illicitly mining cryptocurrencies via one million virtual servers. The arrest signifies a notable escalation in the scope of crypto-jacking, a cyberattack method where hackers seize computer resources to mine cryptocurrencies illegally. Crypto-jacker apprehended  In Ukraine, authorities apprehended a 29-year-old for unlawfully mining cryptocurrencies by compromising numerous cloud accounts. The arrest, executed on Jan. 9 in Mykolaiv, resulted from a collaboration between Europol and an undisclosed cloud service provider. Europol described the incident as a ‘sophisticated crypto jacking scheme’ in a press statement on Jan. 12. The suspect, believed to have mined over $2 million (€1.8 million) in cryptocurrencies, allegedly breached 1,500 accounts using automated tools, according to Ukrainian cyber police involved in the operati...

Ukraine’s largest crypto exchange, Kuna, says the country has lost dozens of billions of dollars since 2016 in revenue related to the crypto market. Ukraine’s state budget has lost $52.9 billion in revenue from taxes and other crypto-related activities since 2016 due to the lack of a clear regulatory framework, according to a recent study commissioned by Kuna, a Ukrainian crypto exchange. The research, co-made in collaboration with Ukraine Economic Outlook and Blockchain Association of Ukraine, says the crypto market has witnessed an influx of $331 billion worth of “real funds” since 2013. Kuna revealed that this inflow increased the market capitalization by $1.2 trillion at the end of June 2023 and by $2.2 trillion at the peak of 2022. The figure is calculated based on venture and angel deals, and various offerings such as ICOs, IDOs, IEOs, stablecoin purchases, etc. Since 2016, Ukraine has been losing nearly $7.6 billion each year without regulatory clari...