UK’s Serious Fraud Office Investigating Basis Markets Cryptocurrency Fraud

The UK’s Serious Fraud Office (SFO) has initiated an investigation into Basis Markets, a cryptocurrency company that raised nearly $28 million in funding through NFT sales and a cryptocurrency hedge fund. Law enforcement authorities have arrested two men in their 30s and 40s on suspicion of multiple fraud and money laundering offenses. The SFO, with assistance from the London Metropolitan Police and West Yorkshire Police, is seeking information from those who invested in Basis Markets to aid their ongoing probe.