Blum Co-Founder Vladimir Smerkis Arrested For Suspicion of Fraud

Vladimir Smerkis, co-founder of the crypto game Blum and former head of Binance’s CIS division, has been arrested in Moscow on suspicion of fraud.

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

Blum Distances Itself From Vladimir Smerkis

Blum rose to prominence as part of the “tap-to-earn” wave—games where users repeatedly tap their screens to earn digital tokens. In Blum’s case, players tapped falling snowflakes to collect in-game currency, which the project claimed could be exchanged for real-world money.

The arrest comes as scrutiny intensifies over tap-to-earn platforms. In a statement shared with its 5.3 million followers on X (Twitter), Blum clarified that Smerkis no longer has any role in the company.

“We would like to inform our community that Vladimir Smerkis has stepped down from his role as CMO and is no longer involved in the development of the project or in any co-founder capacity,” the team posted.

Tap-to-earn games have drawn global attention following the viral success of Hamster Kombat in 2024. That game’s massive token airdrop, the largest in the crypto industry to date, brought the users’ attention to this sector.

Blum quickly followed as one of several tap-to-earn projects. Today, the tap-to-earn segment holds a market cap of $511 million, according to data from CoinGecko.

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