UK Cracks Down on NFT and Crypto Fraud

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The Basis Markets NFT scheme has led to the UK SFO’s first significant crypto-related arrests, with two men detained in London and Bradford for fraud and money laundering.

Authorities warn that misleading NFT fundraising is a growing threat, and the investigation underscores the need for multi-agency coordination between the SFO, CPS, and law enforcement. This prosecution could shape how the UK handles digital asset crimes moving forward.

[Nahid Hossen]

Good move — the UK needed stronger action in this space. ‍️

[Rimon Khan]

Fraud cleanup is essential if NFTs want real credibility back. 🧹