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BREAKING01:36 AM
Fluid Co-founder Confirms Vaults Rehypothecate Collateral and Lack Full Isolation↗
Alert01:36

Fluid Co-founder Confirms Vaults Rehypothecate Collateral and Lack Full Isolation

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24H Summary: Hyperliquid Integrates Native USDC & French Bank BPCE Enters Crypto

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CZ Emphasizes Strict Private Key Isolation for Hardware Wallets

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US Small Business Bankruptcies Surge to Records as Inflation Persists

 
Crypto

UK Serious Fraud Office Investigates $28M Basis Markets Scheme

11/30/2025, 08:06
11/30/2025, 08:36
AI SUMMARY
●UK SFO probes Basis Markets for alleged $28M fraud involving NFTs and hedge funds.
●The scheme reportedly operated from late 2021, raising funds via unregulated offerings.
●Authorities are scrutinizing the project's activities amid wider crypto crackdowns.
The UK's Serious Fraud Office (SFO) has formally launched an investigation into Basis Markets, an entity suspected of orchestrating a large-scale cryptocurrency fraud. Reports indicate that the project raised approximately $28 million from investors starting in late 2021. The funds were purportedly gathered through the sale of Non-Fungible Tokens (NFTs) and a crypto hedge fund offering. This investigation highlights the increasing regulatory scrutiny on unregulated crypto investment vehicles, as authorities examine the project's activities following the significant capital raise.

Sources (1)

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