ASIC Warns Against Yepbit After Withdrawal Complaints

Australia's corporate regulator is warning consumers against dealing with Yepbit and Yepbit Exchange after receiving several reports from investors who said they were unable to withdraw funds from the platform. The Australian Securities and Investments Commission (ASIC) said it has since removed several websites purportedly operated by Yepbit and placed warnings on its Investor Alert List.

Yepbit presents itself as a digital assets and futures trading platform operating globally, including in Australia. ASIC said the platform does not hold an Australian Financial Services Licence (AFSL) and is not authorised to provide financial advice or services in the country.

False Claims About Frozen Funds

Investors told ASIC that Yepbit had claimed the regulator froze their funds while the platform complied with ASIC audits or regulatory requirements. ASIC said those statements are false and designed to deflect requests for refunds. The regulator said it has not taken steps to prevent the return of funds held by Yepbit, and that where it does freeze funds, it will issue a media release to announce that action.

No Licence, No Registration

ASIC confirmed Yepbit does not hold an Australian Financial Services Licence, and is also not a registered Virtual Asset Service Provider on AUSTRAC's Virtual Asset Service Provider Register. ASIC cautioned that a certificate of incorporation or an Australian Company Number does not mean a company is licensed by the regulator, and that scammers commonly use such excuses to shift blame while trying to extract more funds.

Websites Removed and Alerts Issued

ASIC said it has taken action through its website takedown capability, removing several websites purportedly operated by Yepbit. Previously issued alerts on its Investor Alert List include the domains yepbit6.com, ybtaa.com, yepbit.xyz and yepbit.net. ASIC cautions against dealing with this firm.

Global Scrutiny

ASIC joined regulators from other jurisdictions in issuing alerts against Yepbit, saying the platform is operating in Australia without the required financial services authorisation. The Philippines Securities and Exchange Commission issued a cease-and-desist order against Yepbit Exchange Pty. Limited and Fidelity Capital Investment Group in February 2026 for allegedly soliciting investments from the public without required approvals.

Ghana's Securities and Exchange Commission warned in July 2026 against Yepbit Exchange and Bonchat, describing them as suspected fraudulent investment schemes and saying the platforms were not licensed by the regulator. Attempts to reach Yepbit for comment using the email address listed in ASIC's statement were unsuccessful, as the email bounced back.

How Investors Can Protect Themselves

ASIC advises consumers to always check whether an investment opportunity is accompanied by a verified AFSL. If a licence number cannot be easily verified through ASIC's registers, treat that as a significant warning sign.