Vladimir Smerkis, co-founder of the crypto recreation Blum and former head of Binance’s CIS division, has been arrested in Moscow on suspicion of fraud.
The Zamoskvoretsky District Courtroom ordered his detention this week. Authorities haven’t disclosed the specifics of the alleged felony exercise.
Blum Distances Itself From Vladimir Smerkis
Blum rose to prominence as a part of the “tap-to-earn” wave—video games the place customers repeatedly faucet their screens to earn digital tokens. In Blum’s case, gamers tapped falling snowflakes to gather in-game forex, which the undertaking claimed may very well be exchanged for real-world cash.
The arrest comes as scrutiny intensifies over tap-to-earn platforms. In an announcement shared with its 5.3 million followers on X (Twitter), Blum clarified that Smerkis not has any function within the firm.
“We would like to inform our community that Vladimir Smerkis has stepped down from his role as CMO and is no longer involved in the development of the project or in any co-founder capacity,” the staff posted.
Faucet-to-earn video games have drawn international consideration following the viral success of Hamster Kombat in 2024. That recreation’s large token airdrop, the biggest within the crypto trade up to now, introduced the customers’ consideration to this sector.
Blum shortly adopted as one in every of a number of tap-to-earn initiatives. In the present day, the tap-to-earn section holds a market cap of $511 million, in line with knowledge from CoinGecko.
Disclaimer
In adherence to the Belief Undertaking pointers, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to offer correct, well timed data. Nonetheless, readers are suggested to confirm info independently and seek the advice of with an expert earlier than making any selections based mostly on this content material. Please observe that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.