British fraud office arrests two men accused of $28 million Basis Markets rug pull

The United Kingdom’s Serious Fraud Office (SFO) arrested two men on suspicion of fraud and money laundering in connection with the collapse of Basis Markets, which raised $28 million in late 2021 to fund the creation of a crypto hedge fund. SFO officers carried out raids alongside police in Herne Hill, south London, and Bradford, West Yorkshire in its first major cryptocurrency case.