Blum Crypto Founder Cuffed in Moscow—Project Scrambles to Cut Ties

Another day, another crypto exec in cuffs—but this time it’s in Putin’s backyard. Blum’s leadership team is moving faster than a rug-pull artist to distance themselves from their arrested co-founder.

The playbook stays predictable: ’Operational independence’ claims, vague reassurances about ’business as usual,’ and of course the classic ’this doesn’t reflect our values’ corporate kabuki. Meanwhile, traders are left wondering if their tokens will survive the headlines—or get the usual 20% ’bad news dip’ before VCs pump it back up.

Funny how these scandals never seem to happen during bear markets. Almost like someone’s protecting their bags...

The Drop Game closed on May 14, and the team says its airdrop remains on track for the second quarter of 2025. However, the arrest has raised new doubts within the community about the project’s future.

In a follow-up post, Blum thanked Smerkis for his past contributions but reassured users that operations are continuing without disruption. “Our team remains fully committed,” the message read, “and focused on delivering the roadmap ahead.”