Blum Co-Founder Arrested in Russia Amid Fraud Allegations

Vladimir Smerkis, co-founder of the Telegram Mini App Blum, has been detained in Moscow on suspicion of large-scale financial fraud. The arrest follows a hearing at the Zamoskvoretsky District Court, with authorities citing misconduct involving significant sums. While charges remain unconfirmed, scrutiny has turned to Smerkis’s prior ventures—The Token Fund and Tokenbox—which raised substantial capital before fading from prominence.

Blum, a crypto-integrated platform combining exchange services with gamified Telegram engagement, moved swiftly to dissociate from Smerkis. The project announced his departure as Chief Marketing Officer, emphasizing his discontinued involvement. The incident casts a shadow over Telegram’s growing ecosystem of mini-apps, though Blum’s operational continuity appears unaffected.