Co-Founder of Blum, Vladimir Smerkis Arrested for Fraud in Russia
Vladimir Smerkis, co-founder of the crypto game Blum and former director of Binance in the CIS region, has just been arrested for large-scale 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 is charged under Russian law for major fraud (Article 159), which could lead to serious prison time if he is found guilty.
Smerkis is a well-known name in the crypto world. As the person behind Blum—a crypto-based game—and a former top executive at Binance, his sudden arrest is shaking the crypto industry.
Currently, the full details of the case have not been disclosed. We still do not know the extent of the fraud or if others are involved. But the investigation is ongoing, and more revelations are expected to be announced soon.