Vladimir Smirkis, co-founder of the crypto game Blum, has been arrested in Moscow.
The Zamoskvoretsky Court of Moscow sanctioned the arrest of the former head of the Binance exchange for the CIS and co-founder of the crypto game Blum, Vladimir Smirkis, in a criminal case of large-scale fraud.
The arrest may be related to projects from previous years, in which clients lost at least 15 million dollars.
In 2017, he created The Token Fund — one of the first cryptocurrency investment funds. Where investors purchased the internal token TKN for real crypto, and in return received a promise to multiply their money. The project raised eight million dollars in investments, earned more on the rise of crypto, and suddenly closed in 2018. Clients did not receive their money.
Smirkis's next project was Tokenbox. It received 7 million dollars in investments, the TBX token was listed on two exchanges at once, almost instantly depreciated, and vanished into oblivion.
On May 16th, Vladimir Smirkis was arrested on charges of fraud.