ASIC Shuts Down Websites Linked to Crypto Exchange Yepbit Amid Withdrawal Delays

The Australian Securities and Investments Commission (ASIC) has taken down several websites linked to crypto exchange Yepbit after investors reported being unable to withdraw their funds.

Yepbit allegedly told investors that ASIC had frozen their funds during regulatory checks, but the regulator said this claim was false. The platform does not hold an Australian Financial Services Licence and is not registered with AUSTRAC as a virtual asset service provider.

ASIC received multiple reports from investors who could not retrieve their money held through Yepbit. The regulator has added warnings about Yepbit to its Investor Alert List and cautioned consumers against dealing with the platform.