ASIC Says Yepbit Falsely Blamed Regulator for Frozen Investor Funds

ASIC warned investors against Yepbit today (Wednesday) after receiving several reports of blocked withdrawals. The regulator said the purported crypto and futures platform falsely blamed ASIC for freezing customer funds.

The warning attaches a name to a tactic the Australian regulator has flagged before: operators blaming regulators when investors cannot recover their money. FinanceMagnates.com reported in March 2025 that scammers were impersonating ASIC and demanding payments to release assets.

ASIC said Yepbit's statements about audits or regulatory requirements were false. "They are designed to deflect requests for refunds," the regulator said.

ASIC Says It Did Not Freeze the Money

Yepbit presented itself as a global digital-asset and futures trading platform, including to Australian investors, according to ASIC. The regulator said it had taken no action preventing Yepbit from returning funds.

The platform has no Australian Financial Services License, ASIC said. It is not authorized to provide financial services or advice in Australia. Yepbit is also absent from AUSTRAC's Virtual Asset Service Provider Register.

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