Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Vladimir Smerkis, former regional director of Binance in the Community of Independent States (CIS) and co -founder of the Blum Krypto game based in Telegram, was arrested in Russia for accusation of extensive fraud.
The District Court in Moscow in Moscow allowed the prosecutor to demand that Smerkis be held in a continuous investigation of 18 May 2025.
Russian official media das It claims that this case concerns accusations pursuant to Article 159 of the Russian Criminal Code concerning the main financial theft
The authorities claim that Smerkis was associated with fraud, which could have caused great investors’ losses. If he is found guilty, he can spend two to twelve years behind bars.
From ICO scandals to telegram game: Blum cuts links with co -founder
According to a Local publicationThe probe apparently focuses on the participation of Smerkis in two investment platforms of the cryptocurrency, which started in 2017 during the first range of coins (ICO) Frenzy: Fund Token and Tokenbox. This site offered easily accessible access to crypto assets, but eventually disintegrated and investment losses were estimated at $ 15 million.
Russian prosecutors claim that the projects have been poorly managed and lacked regulatory supervision, indicating that misleading procedures could be involved. Although these businesses are preceded by Blum, they raised questions about executive behavior and responsibility for the project in the ecosystem.
Smerkis later became a remarkable character in the web3 area through his role in Binance Russia and recently as a co -founder Blum.
Blum, which originally received support through the most valuable program of Binance Labs builders, launched its interactive “Drop Game” in May 2024. The game allowed users to accumulate “Blum points” by taping the falling snowflakes on their phone screens, with the promise that these points will later be converted to tokens through airiness.
After the arrest of Vladimir Smerkis, Blum quickly moved to distance the project from his now executive manager. In a statement published X on Saturday, Blum announced that Smerkis “… resigned from his role CMO and no longer participated in the development of the project or any co -foundation capacity.”
The team also stressed that the operations continue according to plan, including the upcoming Blum Token Airdrop scheduled for Q3 2025.
Fraud fees on Mount against Crypt managers around the world
The recent arrest Vladimir Smerkis contributes to a growing intervention against Krypto managers facing legal consequences for fraud associated with the sale of tokens, NFT and unsuccessful platforms.
In Illinois, Jonathan Mills, founder HASHLING NFT PROJECT And the CEO of Satoshi Labs LLC is sued by investors who claim to divert $ 1.46 million from common enterprises for personal use.
The founder of Halling NFT Jonathan Mills reportedly cheated on partners and took full control of the bitcoin mining company funded by others.#Nft #bitcoinmining #lawsuit https://t.co/nedpipyejd
– Cryptonews.com (@cryptonews) May 15, 2025
Citizen, filed on May 14, accuses Mills of fraud, breach of trust and unfair enrichment related to two drops of NFT on the blockchains Solan and Bitcoins, which could not bring promised revenues from their own capital.
Meanwhile the founder of the Celsius network Alex Mashinsky was sentenced to 12 years in prison 8 May John Koeltl. In December, he confessed to two number of fraud after cheating hundreds of thousands of customers with fake promises of high yields on digital assets.
Celsius founder Alex Mashinsky was sentenced to 12 years in prison for cheating investors with false promises of high crypt revenues.#Celsius #Alexmashinskyhttps://t.co/r4yydikau
– Cryptonews.com (@cryptonews) 9 May 2025
In the related case, Daniel Shatts and Joseph PodulkaFormer CEO and Financial Director of Bankrupt Crypto Lender Credit LLC, guilty for fraud in the investigation of the Ministry of Justice to the company’s collapse by 2020
Former CELL CEO & CFO confessed to wine fraud for Kryptos Kryptos $ 780 million.#Rending #cryptophraud #dojhttps://t.co/bnhbv6nSld
– Cryptonews.com (@cryptonews) May 14, 2025
He filed a credit in November 2020 for bankruptcies in Chapter 11 and revealed extended financial bad management. Both executives admitted to misleading customers and partners about the company’s financial health.
Contribution Blum co-founder and ex-Binance Exec Vladimir Smerkis arrested for alleged extensive fraud He appeared for the first time Cryptonews.
