blumcofounder

BLUM Update after its CEO's Arrest

✔️Team says that they are working for TGE with Exchanges.

What do you think -
#BLUM ki TGE announcement is month me aegi?
Yes 👍    No 👎
....
I think over hyped project ..Don't expect high profit from it...
#BlumCrypto #blumcofounder #Arrests

Vladimir Smerkis, co-founder of Blum and former head of Binance's CIS division, was arrested in Moscow for alleged large-scale fraud. The Zamoskvoretsky District Court ordered his detention, citing charges related to Part 4, Article 159 of the Russian Federation's Criminal Code.

*Key Details:*

- *Charges:* Large-scale fraud, specifically related to his past ventures, The Token Fund and Tokenbox, where investors allegedly lost over $15 million.
- *Investigation:* The court has imposed custodial measures while the investigation unfolds.
- *Blum's Response:* The company has distanced itself from Smerkis, stating he stepped down as Chief Marketing Officer and is no longer involved in the project.

*Impact on Blum:*

- *Uncertainty:* Smerkis's arrest has sparked concerns about Blum's future, with industry experts questioning the sustainability of crypto initiatives linked to fraud allegations.
- *Market Impact:* The incident highlights the need for regulatory clarity and investor protection in the crypto sector.

#CryptoFraud #blumcofounder #VladimirSmerkis #CryptocurrencyInvestigation #CryptoRegulation