In brief
- Basis Markets raised $28M in late 2021, then shut down months later without refunds.
- The SFO arrested two men in raids across London and West Yorkshire.
- Victims are urged to come forward as the case tests the UK’s crypto enforcement.
British prosecutors are investigating a failed crypto project that raised tens of millions from retail investors before shutting down.
The U.K. Serious Fraud Office said Thursday it arrested two men as part of an inquiry into Basis Markets, a collapsed crypto hedge fund that allegedly defrauded backers out of $28 million.
The office executed search warrants in Herne Hill and near Bradford, seizing digital devices and documents. Authorities suspect the men whose identities remain undisclosed of…
Nov 21 2025
