ASIC Shuts Down Yepbit Websites Amid Customer Withdrawal Issues
The Australian Securities and Investments Commission (ASIC) has taken action against cryptocurrency platform Yepbit following numerous customer complaints about inaccessible withdrawals.
The regulator ordered the removal of multiple websites associated with the platform and issued public warnings against engaging with the service, stating that Yepbit operates without a proper Australian Financial Services Licence or AUSTRAC registration.
ASIC also denied allegations that it had restricted customer account access, saying it issues public notices whenever it exercises legal authority to freeze assets during formal enforcement actions. The regulator emphasized that basic corporate registration does not substitute for proper financial service licensing.