UK Fraud Office Probes $28M Crypto Collapse
The UK’s Serious Fraud Office announced on Thursday that it has opened an investigation into the collapse of a $28 million cryptocurrency scheme and has arrested two men on suspicion of fraud and money laundering. The agency said it is calling on investors and anyone with information or relevant records to contact the SFO as investigators work to trace assets and determine whether funds can be recovered.
SFO involvement signals a criminal enforcement response rather than a purely civil dispute and could lead to restraint orders, prosecutions or cross-border cooperation given crypto’s global reach. The case highlights ongoing regulatory and consumer-protection challenges in digital assets; affected investors are advised to preserve transaction records and report details to the SFO to support the probe.