Former Binance Executive and Blum Co-Founder Vladimir Smerkis Arrested in Moscow on May 16 Over $15 Million Fraud

Vladimir Smerkis, former head of Binance’s CIS division and co-founder of the tap-to-earn game Blum, was arrested in Moscow on May 16 on charges of large-scale fraud. The Zamoskvoretsky District Court ordered his detention as part of a criminal investigation. Specific details of the charges have not been disclosed publicly. Prior to his arrest, Smerkis resigned from his position as Chief Marketing Officer at Blum. Reports indicate that the alleged fraud case involves losses exceeding $15 million. Smerkis has also been involved in other crypto ventures, including Tokenbox and The Token Fond.

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