Vladimir Smerkis, co-founder of the crypto game Blum and former CIS branch director of Binance, has been arrested in Moscow on suspicion of fraud.
The Zamoskvoretsky District Court ordered his detention this week. Authorities have not yet disclosed details about the alleged criminal activities.
Blum Separates from Vladimir Smerkis
Blum emerged as part of the "tap-to-earn" wave – games where users tap the screen to earn digital tokens. In Blum's case, players tap falling snowflakes to collect in-game currency, which the project claims can be converted to real money.
The arrest occurred as surveillance of tap-to-earn platforms increases. In a statement shared with 5.3 million Watchers on X (Twitter), Blum clarified that Smerkis no longer has any role in the company.
"We want to inform the community that Vladimir Smerkis has resigned as CMO and is no longer involved in project development or as a co-founder," the team has posted.
Tap-to-earn games have attracted global attention after the viral success of Hamster Kombat in 2024. The game's massive token Airdrop, the largest in the crypto industry so far, drew user attention to this sector.
Blum quickly followed as one of the tap-to-earn projects. Currently, the tap-to-earn segment has a market Capital of 511 million USD.
