[UK Serious Fraud Office Investigates $28 Million Cryptocurrency Collapse] The UK Serious Fraud Office (SFO) has announced an investigation into a $28 million cryptocurrency project collapse and is calling on investors to provide information. This marks the SFO's first major investigation in the cryptocurrency sector. Basis Markets raised funds at the end of 2021 through two NFT public fundraising events to create a cryptocurrency hedge fund. In June 2022, investors were informed that the project was terminated due to proposed new regulatory measures in the United States. On Thursday, following raids in London and West Yorkshire in northern England, the SFO arrested two men suspected of fraud and money laundering. SFO Director Nick Ephgrave stated that the agency will continue to enhance its investigative capabilities in the crypto sector to combat related criminal activities.