The Australian Securities and Investments Commission (ASIC) has warned consumers against Yepbit and Yepbit Exchange after investors reported blocked withdrawals. ASIC took down several Yepbit websites and clarified that its alleged freezing of Yepbit funds is false. Yepbit lacks an Australian Financial Services Licence and AUSTRAC registration. The platform also faces regulatory actions in the Philippines and Ghana, where actor Jason Edwards is alleged to be involved.
Yepbit withdrawal blocks
- ▪Investors reported to the Australian Securities and Investments Commission (ASIC) that they are unable to withdraw funds from the digital assets and futures trading platform Yepbit.
- ▪The media outlet The Block attempted to contact Yepbit regarding the withdrawal issues using the email address listed in ASIC's statement, but the email bounced back.
Unlicensed operation in Australia
- ▪Yepbit is not registered as a Virtual Asset Service Provider on the Australian Transaction Reports and Analysis Centre's (AUSTRAC) Virtual Asset Service Provider Register.
- ▪Yepbit does not hold an Australian Financial Services Licence (AFSL) with ASIC and is not authorized to provide financial advice or services in Australia.
ASIC website takedown capability
- ▪The Australian Securities and Investments Commission (ASIC) issued warnings against Yepbit on its Investor Alert List, targeting domains including yepbit6.com, ybtaa.com, yepbit.xyz, and yepbit.net.
- ▪The Australian Securities and Investments Commission (ASIC) removed several websites purportedly operated by Yepbit using the regulator's website takedown capability.
False ASIC fund freeze claims
- ▪Yepbit falsely claimed to investors that the Australian Securities and Investments Commission (ASIC) had frozen investor funds while the platform complies with audits or regulatory requirements.
- ▪The Australian Securities and Investments Commission (ASIC) clarified that it has not taken steps to prevent the return of funds held by Yepbit.
International regulatory warnings
- ▪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 soliciting investments without approvals.
- ▪Ghanaian social media journalist Alvin alleged in August 2026 that Ghanaian actor Jason Edwards was the mastermind behind Yepbit's operations in Ghana.
- ▪Ghana's Securities and Exchange Commission warned in July 2026 against Yepbit Exchange and Bonchat, describing them as suspected fraudulent investment schemes.
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