Vladimir Smerkis, the co-founder of the Telegram-based crypto project Blum, has been arrested in Moscow, Russia, on fraud charges. The Zamoskvoretsky District Court of Moscow approved a request to keep Smerkis in custody while investigations are ongoing. Smerkis, who previously worked with Binance in Russia, is suspected of committing fraud on a large scale, which could lead to imprisonment for two to 12 years under Russian law. The allegations are linked to his involvement in The Token Fund and Tokenbox crypto ventures, where investors suffered significant losses. Blum confirmed that Smerkis resigned as chief marketing officer and is no longer part of the project. Despite the situation, Blum reassured users that the team remains committed to its goals and operations will continue as usual. Blum integrates a decentralized exchange into Telegram Mini Apps, allowing users to trade crypto and participate in token airdrops. Concerns have arisen regarding the BLUM token airdrop following Smerkis’ arrest. The community is uncertain if the airdrop will proceed as planned. Blum had hinted at a potential BLUM token listing later this year, with users earning tokens through the newly launched Drop Game. The news of Smerkis’ arrest has raised doubts about the token airdrop among users. Community members are seeking clarification from Blum regarding the planned airdrop. The uncertainty surrounding the situation has led to questions about the future of the project.