Ex-Binance Executive and Blum Co-Founder Vladimir Smerkis Arrested for Alleged Crypto Fraud

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 Moscow court quickly approved his detention as investigations are ongoing. The case reportedly connects to earlier projects that allegedly defrauded investors of $15 million. Smerkis Detained Under Russia’s Criminal Code Yesterday, May 18, the Russian state news agency TASS confirmed that Vladimir Smerkis was taken into custody in Moscow. According to a report , he is being investigated under Article 159 of Russia’s Criminal Code, which deals with large-scale fraud. If found guilty, he faces a sentence ranging from 2 to 12 years. Related: Binance US Reduces Workforce; CEO Brian Shroder Resigns The charges stem from past projects, including The Token Fund and Tokenbox, two crypto investment ventures. Russian outlet Mas reported that these platforms collectively led to approximately $15 million in inves… The post Ex-Binance Executive and Blum Co-Founder Vladimir Smerkis Arrested for Alleged Crypto Fraud appeared first on Coin Edition .

Source: Coin Edition