UK Arrests Two in First Major Crypto Fraud Investigation Linked to $28M Fund Collapse

The UK Serious Fraud Office arrested two individuals in connection with the collapse of Basis Markets, a cryptocurrency fund that allegedly misappropriated $28 million from investors. A man in his 40s and another in his 30s were detained in south London and West Yorkshire on suspicion of fraud and money laundering. The arrests represent the SFO's first major cryptocurrency investigation, according to Director Nick Ephgrave.