Australia’s corporate regulator has warned consumers against Yepbit and Yepbit Exchange after investors reported being unable to withdraw funds, while ASIC said the platform is not licensed to provide financial services in Australia and rejected claims that it had frozen investors’ money.
In a statement, the Australian Securities and Investments Commission (ASIC) said Yepbit presents itself as a digital-assets and futures trading platform operating globally, including in Australia. However, the platform does not hold an Australian Financial Services Licence (AFSL) and is not authorized to provide financial advice or services in the country. The regulator also said the platform is not registered as a virtual asset service provider on the Australian Transaction Reports and Analysis Centre’s (AUSTRAC) VASPR register.
Reports of withdrawal problems
ASIC’s warning follows several reports from investors who said they could not withdraw funds held on Yepbit. The regulator said Yepbit has promoted itself as a digital-assets and futures trading platform operating globally, including in Australia. However, ASIC said consumers should be particularly cautious when an investment service cannot provide a licence that can be independently verified through official regulatory registers.
ASIC also warned that a company having a certificate of incorporation or an Australian Company Number does not mean it is licensed to provide financial services.
The distinction is important because scammers can use legitimate-looking corporate documents to create the impression that an investment platform is regulated when it is not.
ASIC rejects freeze claims
According to ASIC, Yepbit has also told investors that the regulator had frozen funds on the platform while it complied with ASIC audits or other regulatory requirements. ASIC rejected those claims.
The regulator said that when it takes action to freeze funds, it publicly announces the action through a media release. It described claims that ASIC had frozen Yepbit investors’ funds as false statements designed to shift responsibility away from the platform and potentially persuade investors to continue waiting or provide additional money.
ASIC has already used its website takedown powers to remove several websites that it said were purportedly operated by Yepbit.
The regulator has also issued warnings against several Yepbit-related domains, including yepbit6.com, ybtaa.com, yepbit.xyz and yepbit.net.
Similar global regulatory warnings
ASIC’s warning is not the first regulatory action involving Yepbit-related entities. Regulators in the Philippines and Ghana have issued separate warnings or orders this year, although those proceedings involve their own jurisdictions and allegations.
On February 4, 2026, the Philippines Securities and Exchange Commission issued a cease-and-desist order against Yepbit Exchange Pty. Limited and Fidelity Capital Investment Group, alleging that they were soliciting investments from the public without the required approvals.
Ghana’s Securities and Exchange Commission issued a separate warning in July against Yepbit Exchange and Bonchat, identifying them as suspected fraudulent investment schemes and saying the platforms were not licensed by the regulator.
Regulators urge independent checks
ASIC has advised investors to verify an investment platform’s regulatory status before transferring money or sharing personal information. Consumers can check AUSTRAC’s VASPR register for crypto-related services and ASIC’s professional registers to verify an AFSL and its conditions. The regulator also warned that scammers may impersonate legitimate licensed businesses.
ASIC urged consumers who suspect they may be dealing with a scam to stop communicating with the platform and contact their bank if they have already transferred money or shared financial information.
The Crypto Times reached out to Yepbit for comment on the allegations and ASIC’s warning, but had not received a response at the time of publication.
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