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UK SFO Investigates $28 Million Basis Markets Crypto Fraud Scheme

UK SFO Investigates $28 Million Basis Markets Crypto Fraud Scheme

Author:

Global Cryptocurrency

Published:

2025-11-21 00:03:02

23

1

BTCCSquare news:

The UK's Serious Fraud Office has launched its first major cryptocurrency fraud probe, targeting Basis Markets—a purported crypto hedge fund accused of defrauding investors of $28 million. Coordinated raids in London and West Yorkshire led to two arrests, with authorities seeking information from affected investors.

Basis Markets raised funds through NFT sales in late 2021, promising to establish a crypto hedge fund. By mid-2022, the operation had collapsed, leaving investors empty-handed. The SFO's intervention marks a significant escalation in UK regulatory action against crypto-related financial crimes.

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