Blum Co-founder Vladimir Smerkis Arrested in Moscow for Alleged Fraud

Vladimir Smerkis, co-founder of Blum, a Telegram app blending crypto exchange with games, was arrested in Moscow on fraud charges. Previously linked to The Token Fund and Tokenbox, some speculate the charges are from past ventures. After his arrest, Blum stated Smerkis has resigned and is no longer influencing the project. Despite the ongoing legal issues, Blum plans to proceed with its Blum Points airdrop in 2025. The company expressed gratitude for Smerkis' contributions but emphasized their focus remains steady.