#Vladimir #Smerkis arrested on suspicion of fraud 🙂

Vladimir Smerkis, co-founder of crypto-game #Blum and former head of #Binance in the CIS, was arrested in Moscow on suspicion of fraud.

The Zamoskvoretsky District Court ordered his detention this week. Authorities have not yet disclosed details of the alleged criminal activity.

Blum distances itself from Vladimir Smerkis

Blum became popular thanks to a wave of tap-to-earn games, where users earn digital tokens by repeatedly tapping on screens. In Blum, players collected falling snowflakes to earn in-game currency that could allegedly be exchanged for real money.

The arrest came amid increased scrutiny of tap-to-earn platforms. In a statement to its 5.3 million followers on X (#Twitter), Blum clarified that Smerkis is no longer affiliated with the company.