UK Initiates Probe into Alleged $28 Million Basis Markets Cryptocurrency Fraud
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Nov 21 2025Criminal Investigation Initiated: U.K. authorities have launched a criminal investigation into Basis Markets, a failed crypto hedge fund accused of defrauding retail investors of $28 million through unregistered NFT and token sales.
Arrests Made: Two men were arrested on suspicion of fraud and money laundering in connection with the scheme, which operated during the 2021 crypto boom and abruptly shut down in June 2022, allegedly misusing investor funds.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
