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SFO Arrests Basis Markets Founders in $28M Crypto Fraud Case

SFO Arrests Basis Markets Founders in $28M Crypto Fraud Case

Author:

Global Cryptocurrency

Published:

2025-11-22 00:04:02

16

3

BTCCSquare news:

London's Serious Fraud Office has detained two individuals linked to the collapse of Basis Markets, a cryptocurrency project accused of defrauding investors of $28 million. The arrests mark the SFO's first major intervention in a large-scale digital asset fraud case.

Authorities executed simultaneous raids in Herne Hill and Bradford, apprehending suspects aged in their 30s and 40s. Charges include financial deception and money laundering related to the failed crypto venture.

SFO Director Nick Ephgrave emphasized the agency's growing capability to investigate cryptocurrency crimes. "These arrests demonstrate our evolving expertise in tracking digital asset fraud," Ephgrave stated, signaling increased regulatory scrutiny of crypto projects.

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