Shocking Arrest: Blum Co-Founder and Former Binance Exec Taken Down in Russia!

Big news from Moscow: Vladimir Smerkis, co-founder of the crypto game Blum and former head of Binance in the CIS region, has just been arrested for massive fraud!

On May 18, 2025, a Moscow court officially ordered his arrest after investigators accused him of being involved in a large-scale scam. He’s being charged under Russia’s law for major fraud (Article 159), which could mean serious jail time if he's found guilty.

Smerkis is a well-known name in the crypto world. As the mind behind Blum—a crypto-based game—and a former top executive at Binance, his sudden arrest is sending shockwaves through the crypto industry.

Right now, the full details of the case are still under wraps. We don’t yet know how big the fraud is or if others are involved. But the investigation is active, and more revelations are expected soon.

This case could signal a tougher stance from Russia on crypto activities. Is this just the beginning?

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