UK’s SFO Makes First Major Crypto Arrests in $28M Fraud

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The UK Serious Fraud Office (SFO) has arrested two men in London and Bradford in connection with the collapse of Basis Markets, a scheme that raised $28 million through NFT-based fundraisers in 2021.

The arrests, conducted alongside the Metropolitan and West Yorkshire Police, mark the SFO’s first major crypto enforcement action, highlighting the UK’s growing focus on digital asset fraud. Authorities are appealing to victims and whistleblowers to come forward, signaling that the investigation could expand further.

[Nahid Hossen]

$28M is no small case — SFO finally getting serious. ️

[Rimon Khan]

If airlines adopt this widely, mass adoption will speed up big time.