TechFlow, May 19 — According to The Block, Blum co-founder Vladimir Smerkis was arrested in Moscow on May 18 over suspected large-scale fraud, local media reported. Smerkis previously served as Binance's General Manager for Russia and the CIS region.
Blum quickly issued an official statement confirming that Smerkis has resigned from his position as CMO and is no longer involved in project development in any co-founder capacity. Reports suggest the arrest may be linked to Smerkis's prior projects, including The Token Fund and Tokenbox, which raised millions of dollars but later underperformed.
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