As reported by Cryptonewsland, the UK Serious Fraud Office (SFO) is investigating Basis Markets, a failed crypto project that raised $28 million in 2021 through NFT and token sales before collapsing in 2022. Two men were arrested in London and West Yorkshire on fraud and money laundering charges. The SFO has emphasized its commitment to tackling cryptocurrency fraud, with raids conducted in Herne Hill and Bradford, where electronic devices and documents were seized. The project’s collapse left many investors without refunds, and authorities suspect funds were diverted to personal wallets of the founders. SFO Director Nick Ephgrave stated the agency is determined to pursue those using crypto to defraud investors.
UK SFO Investigates $28M Basis Markets Collapse, Two Arrested
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