Russia arrests Blum co-founder Vladimir Smerkis on fraud charges

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The story "Russia arrests Blum co-founder Vladimir Smerkis on fraud charges" was covered 12 hours ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 12h ago

Russia arrests Blum co-founder Vladimir Smerkis on fraud charges - Coin Telegraph

Quick Summary:

Russian news outlet Mash tied the fraud allegations against Smerkis to his involvement in The Token Fund and Tokenbox crypto ventures that he co-founded in 2017, where investors reportedly suffered combined losses of around $15 million.

Blum, which is not involved in The Token Fund and Tokenbox ventures, wrote to X on May 18 that Smerkis resigned from his role as the firm’s chief marketing officer and would no longer be involved in the project in any capacity.

Vladimir Smerkis, a co-founder of the Telegram-based crypto project Blum, has reportedly been arrested in Moscow, Russia, on fraud allegations, amid Blum confirming he is no longer affiliated with the project.