That's unfortunately correct, that would be the first thing that would pop into the mind of almost all Russian speakers...
They should have already done some due diligence before zeroing in on a name. If they already did, then it means they are ok with it though it might have negative connotations in some demographics.
We looked but nothing like that came up. From what we can gather it sounds like the term, but isn't exact.
And the outrage roleth forth.
Any name will always mean something bad in some language.
In what languages do names like y combinator or amazon web services or sublime text mean "something bad"?