Law enforcement agency raids two sites in West Yorkshire and London as it appeals for information
The Serious Fraud Office (SFO) has arrested two men as it launched an investigation into a suspected £20m cryptocurrency fraud.
The law enforcement agency raided two sites in West Yorkshire and London as it appealed for information about $28m (£21.4m) invested into a cryptocurrency scheme called Basis Markets.
Two men, one in his 30s and another in his 40s, were arrested on suspicion of multiple fraud and money-laundering offences, the agency said.
Basis Markets, which the SFO described as a “suspected fraudulent scheme” and is not a company, is said to have raised millions of pounds via two public fundraisers in November and December 2021, stating it would use the cash to create a “crypto hedge fund”.
