Europe EditionBinance's Former Russia Head, Blum Co-Founder Arrested in Connection to Fraud Case
- Russian authorities arrested Vladimir Smerkis, former Binance Russia head and Blum co-founder, in Moscow in May 2025 on fraud charges.
- The arrest was authorized by the court in connection with an investigation into a serious fraud case defined under the Russian legal statute addressing grand fraud.
- Smerkis resigned as Blum's Chief Marketing Officer one day before the arrest, and Blum publicly distanced itself from him while affirming ongoing operations.
- Blum, a tap-to-earn crypto app co-founded in December 2023 by former Binance executives, gained significant user interest but now faces user distrust and demands for transparency.
- The case raises concerns about legal risks for crypto influencers and projects, suggesting Blum must rebuild trust through clearer communication to sustain its platform.
34 Articles
34 Articles
Binance's Former Russia Head, Blum Co-Founder Arrested in Connection to Fraud Case
Vladimir Smerkis, Binance's former Russia division head, was arrested in Russia for being connected to a large-scale criminal fraud case, local media outlet TASS reported on Sunday.Zamoskvoretsky District Court, which resides in Moscow, granted an investigator's request to detain Smerkis, an unnamed law enforcement agency source told TASS. The report did not share specific details of the fraud case. CoinDesk was unable to contact the Zamoskvoret…
Moscow Authorities Arrest Co-Founder of ‘Tap to Earn’ Crypto Game Blum
Moscow authorities arrested Vladimir Smerkis, co-founder of crypto game Blum and former head of Binance, as part of a fraud investigation. The Zamozkoretsky District Court has not released all of the details about Smerkis’ arrest. However, the court has permitted authorities to detain Smerkis under Article 159 of the Criminal Code, which relates to severe fraud cases under Russian law. Smerkis could face 2 to 12 years imprisonment for financial …
Blum Co-founder Smerkis Arrested; Airdrop in Doubt
The post Blum Co-founder Smerkis Arrested; Airdrop in Doubt appeared on BitcoinEthereumNews.com. Vladimir Smerkis was arrested in Moscow for alleged large-scale fraud tied to past projects. Blum says operations will continue without disruption. Uncertainty grows around the planned BLUM token airdrop amid community backlash. Russian authorities arrested Vladimir Smerkis, a co-founder of the Telegram-based crypto platform Blum, on fraud charges. A…
Blum Co-Founder Arrested For Large-Scale Fraud In Moscow
Law enforcement authorities in Moscow arrested and detained Blum co-founder Vladimir Smerkis for his alleged involvement in large-scale fraud. Specific details about the case are not yet available, but it could be due to his role in the controversial TKN and TBX tokens, which led to the loss of $15 million from customers. Vladimir Smerkis, co-founder of Blum and former General Manager of Binance for the CIS region, is currently under police cust…
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