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Recover Your Losses from Basis Markets

Basis Markets was a cryptocurrency investment project that collapsed in June 2022 after raising $28 million, and is now the subject of a major Serious Fraud Office (SFO) investigation. If you transferred funds from a UK bank account, a refund claim may be possible — even if your bank has already refused.

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important information about scam and fraud claims

Why Choose Compensation Adviser?

When dealing with complex cryptocurrency fraud and bank disputes, you need experienced professionals on your side. We specialise in recovering funds lost to sophisticated investment scams, navigating the intricate regulations that hold banks accountable for failing to protect their customers.

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We offer a free initial assessment of your Basis Markets case with absolutely no obligation to proceed.

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We operate strictly on a no-win, no-fee basis. Our fee is 15% + VAT of any compensation recovered.

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Our experts will review your transaction history and correspondence to build a strong case against your bank.

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What Was Basis Markets?

Basis Markets presented itself as a sophisticated cryptocurrency investment project, claiming to offer everyday investors access to “delta-neutral” yields from arbitrage trading (known as “basis trades”) that were typically only available to large institutions. The founders, advertising themselves as having decades of experience in traditional finance and software development, promised to build a decentralised hedge fund.

Between November and December 2021, the project raised approximately $28 million (£21.4 million) across two public fundraisers. The first was a highly successful sale of non-fungible tokens (NFTs) which raised around $7 million. This was followed by a public token sale for the ‘BASIS’ token, which raised an additional $20.7 million. Investors were promised a share of trading profits, performance fees, and governance rights.

How the Basis Markets Scheme Worked

Despite the sophisticated marketing and substantial funds raised, independent blockchain investigations allege that instead of directing the capital into a project treasury to build the promised trading platform, funds were distributed directly to the founders’ personal wallets. This occurred despite explicit promises to lock the tokens for 12 months.

The project initially projected it could attract over $1 billion in total value locked (TVL) by December 2022. It claimed that an individual membership NFT could earn investors up to $30,000 in cumulative profit distributions. However, no functioning product was ever delivered. In June 2022, the project suddenly announced it was halting operations, citing “proposed new US regulations,” and subsequently went dark. No funds were returned to investors, while founders had previously flaunted luxury watch purchases in the project’s community channels.

The Serious Fraud Office Investigation

In November 2025, the UK’s Serious Fraud Office (SFO) announced a major investigation into Basis Markets, marking the agency’s first major cryptocurrency case. Supported by the Metropolitan Police and West Yorkshire Police, the SFO executed search warrants and arrested two men on suspicion of multiple fraud and money laundering offences.

SFO Director Nick Ephgrave QPM stated: “With our expanding cryptocurrency capability and growing expertise in this area, we are determined to pursue anyone who would seek to use cryptocurrency to defraud investors.” The investigation remains ongoing, and the SFO has appealed for investors to come forward with information.

Signs You May Have Been Misled by Basis Markets

If you invested in Basis Markets, you may have noticed several red flags leading up to the project’s collapse:

Promises of unrealistically high, consistent returns from 'delta-neutral' trading strategies.

Founders operating under pseudonyms (such as 'TraderSkew') while handling millions in investor funds.

Funds allegedly being diverted to personal wallets rather than a project treasury.

Failure to deliver the promised trading platform or software products.

Sudden cessation of operations in June 2022, blaming unverified 'US regulations'.

Complete lack of refunds or compensation offered when the project shut down.

Learn more about Investment Claims

Scam Scenarios: What to Do If You Lost Money to Basis Markets

1. Gather Your Documentation

Collect all evidence of your investment, including bank statements showing the initial transfers, emails, Discord messages, and screenshots of the Basis Markets platform or your wallet transactions.

2. Contact the Serious Fraud Office

The SFO has specifically requested that Basis Markets investors contact them at BasisMarkets@sfo.gov.uk with their information to assist the ongoing criminal investigation.

3. Report to Action Fraud

File a formal report with Action Fraud, the UK's national reporting centre for fraud and cybercrime, to ensure your case is officially recorded.

4. Contact Your Bank

Notify the bank from which you transferred the funds. They have a regulatory duty to protect customers from fraud and may be liable if they failed to intervene in suspicious transactions.

5. Do Not Pay Recovery Scammers

Be extremely wary of unsolicited emails or messages from individuals claiming they can 'hack' the blockchain to recover your funds for an upfront fee. These are secondary scams.

6. Seek Professional Representation

Contact Compensation Adviser. We understand the mechanisms of crypto fraud and how to hold UK banks accountable under Authorised Push Payment (APP) fraud rules.

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Can I Recover Money Lost to Basis Markets?

Yes, recovery is possible, primarily through challenging the bank that facilitated your initial transfer. Under UK banking regulations and the Contingent Reimbursement Model (CRM) Code, banks have a strict duty of care to protect their customers from Authorised Push Payment (APP) fraud.

When you transferred funds from your UK bank account to a cryptocurrency exchange to purchase Basis Markets NFTs or tokens, your bank should have been monitoring for signs of investment fraud. If they failed to provide adequate warnings, ask sufficient questions, or block suspicious transfers, they may be held liable for your losses. If your bank rejects your claim, we can escalate the matter to the Financial Ombudsman Service (FOS) for an independent, binding decision.

Why Choose Compensation Adviser for Your Basis Markets Claim?

Specialist Knowledge: We understand the complex intersection of cryptocurrency investments and UK banking regulations.
Proven Track Record: We have successfully recovered funds for victims of similar high-profile crypto collapses.
Comprehensive Investigation: We utilise blockchain analysis and regulatory findings (such as the SFO investigation) to build an undeniable case against your bank.
Stress-Free Process: We handle all communication with your bank and the Financial Ombudsman Service, removing the emotional burden from your shoulders.

Frequently Asked Questions

What is the Basis Markets investigation about?

The Serious Fraud Office (SFO) is investigating Basis Markets, a collapsed cryptocurrency project that raised $28 million in late 2021. Two men were arrested in November 2025 on suspicion of fraud and money laundering after the project failed to deliver its promised hedge fund platform and investors lost their money.

Can I claim compensation if I bought Basis Markets NFTs or tokens?

Yes. If you transferred funds from a UK bank account to fund your investment, you may be able to claim compensation from your bank under Authorised Push Payment (APP) fraud rules, provided the bank failed in its duty to protect you from a fraudulent transaction.

My bank has already refused to refund me. Can you still help?

Yes. Banks frequently reject initial fraud claims. We specialise in challenging these rejections by presenting robust legal arguments and, if necessary, escalating your case to the Financial Ombudsman Service (FOS) to secure a fair outcome.

Do I need to wait for the SFO investigation to finish?

No. Civil claims against your bank for failing to prevent fraud are separate from the criminal investigation. You can and should begin the process of reclaiming your funds immediately, as strict time limits apply to financial complaints.

What are your fees?

We operate on a no-win, no-fee basis. If your claim is successful, we charge a fee of 15% + VAT of the total compensation awarded. If we do not recover any money for you, there is no fee to pay.

How long will the recovery process take?

The timeline varies depending on the bank’s response. A bank has up to 15 days to respond to an initial APP fraud claim (or 35 days in exceptional circumstances). If the claim must be escalated to the Financial Ombudsman Service, the process can take several months.

Ready to Start Your Basis Markets Recovery Review?

Don’t let the collapse of Basis Markets be the end of the story. Contact our specialist team today to find out if you are eligible to claim your money back from your bank.