The Serious Fraud Office has announced an investigation into a $28 million cryptocurrency scheme called Basis Markets and is seeking information from investors. The SFO launched the inquiry after a collapse of the scheme, conducting two raids in West Yorkshire and London. Investigators, with support from the Metropolitan Police and West Yorkshire Police, searched properties in Herne Hill and near Bradford, arresting two men in their thirties and forties on suspicion of multiple fraud and money‑laundering offences. Basis Markets raised about US$28 million through two public fundraisers in late 2021, using the funds for a “crypto hedge fund.” In June 2022 investors were notified that new U.S. regulations would halt the project. This marks the SFO’s first major cryptocurrency case. The SFO urges anyone with information to contact BasisMarkets@sfo.gov.uk.
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https://www.gov.uk/government/news/sfo-announces-investigation-into-28-million-crypto-scheme
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