UK Probes Basis Markets Cryptocurrency Fraud, Arrests Two Individuals

The UK’s Serious Fraud Office (SFO) has launched an investigation into Basis Markets, a cryptocurrency scheme that raised approximately $28 million through NFT sales and a cryptocurrency hedge fund. The investigation is being conducted in collaboration with the London Metropolitan Police and West Yorkshire Police, resulting in two arrests of men in their 30s and 40s on suspicion of multiple fraud and money laundering charges. The SFO seeks information from knowledgeable investors to aid the ongoing investigation.