Blum co-founder detained for alleged crypto fraud: report
The Zamoskvoretsky Court of Moscow initiated the arrest of a former Binance executive and co-founder of the Blum tap-to-earn app, Vladimir Smerkis, on fraud charges.
According to Russian news site TASS, citing law enforcement agencies, the Zamoskvoretsky District Court granted an investigator’s request to detain Smerkis for alleged fraud. Details regarding the charges remain unclear.
The agency’s interlocutor cited Article 159 of the Criminal Code of the Russian Federation.
News of the arrest comes one day after Blum posted on social media that Smerkis has stepped down from his role as CMO.
Smerkis “is no longer involved in the development of the project or in any co-founder capacity,” the…
