Co-founder of crypto game Blum arrested in Moscow on large-scale fraud charges

MOSCOW, May 18. /TASS/. The Zamoskvoretsky District Court of Moscow has ordered the arrest of Vladimir Smerkis, former head of Binance in the CIS and co-founder of the crypto game Blum, in connection with a criminal investigation into large-scale fraud, law enforcement sources told TASS.
"The Zamoskvoretsky District Court granted the investigator’s request to impose a custodial measure of restraint on Vladimir Smerkis, who was detained in a case involving large-scale fraud (Article 159 of the Criminal Code of the Russian Federation)," thea source said.
Meanwhile, the official website of the Zamoskvoretsky Court confirmed that materials related to Smerkis’s arrest were indeed submitted to the court for consideration, although it does not specify the final decision rendered.