rugpull

📅 November 20 | UK
The UK is once again reeling from a case involving fraud, missing money, and an international police operation that has just taken a crucial turn. The UK's Serious Fraud Office (SFO) has arrested two men accused of running a multi-million dollar rug pull through the Basis Markets platform, a project that promised advanced trading tools but—according to investigators—ultimately became a vehicle for defrauding investors.

📖The Serious Fraud Office (SFO) confirmed the arrest of two men linked to an alleged $28 million fraud associated with Basis Markets, a platform that operated from the UK and promoted itself as an algorithmic trading project with risk management tools and advanced strategies for investors.
The SFO detailed that the arrests occurred after an investigation involving evidence of complex financial schemes, international fund movements and the use of shell companies. These elements are typical of so-called rug pulls, where the operators of a crypto project abruptly close operations and disappear with the users' funds.
According to the preliminary investigation, those responsible for Basis Markets allegedly attracted hundreds of investors by promising sustainable profits based on purported automated trading algorithms. However, the SFO maintains that a large portion of the funds were never used to develop or execute these strategies, but were instead diverted to accounts controlled by the accused.
The operation included raids, the seizure of electronic devices, and forensic analysis of servers that allegedly hosted Basis Markets' infrastructure. Although the suspects' names were not publicly released, authorities stated they are working with international partners to trace the whereabouts of the missing money.
This case not only exposes the scale of the fraud but also the growing willingness of UK authorities to prosecute financial crimes linked to crypto assets. The SFO emphasized that rug pulls, although common in unregulated markets, can be prosecuted when there is evidence of deliberate deception, false statements, or misappropriation of customer funds.

Topic Opinion:
I believe actions like those of the SFO are necessary to clean up the market and protect users, especially the most vulnerable. Financial education remains the first line of defense: understanding what a rug pull is, how to identify red flags, and why promises of guaranteed returns should raise suspicion.
💬 Do you think these arrests will mark a turning point in the fight against rug pulls?

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#CryptoNews #Rugpull #CryptoFraud #BTC #CryptoNews $BTC

Growing concerns have surfaced within the community regarding the $TRUST token, with several users alleging deceptive practices by the project’s team. According to these reports, developers may be engaging in activities that compromise user funds, and some community members claim to have blockchain-based evidence supporting these concerns.


In response, a group of users is preparing to submit a formal request to Binance for a full review of the project, including a recommendation to delist the token if violations are confirmed. Their goal is to highlight the risks and protect other users from potential financial loss.


Community members who share these concerns are being encouraged to show support by responding with “YES, DELIST IT.” A collective response, they believe, will help strengthen the case and ensure the issue is reviewed thoroughly.
#ScamAlert #RugPull @0xIntuition
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