The Australian Securities and Investments Commission has joined regulators from other jurisdictions in issuing alerts against Yepbit, saying the digital assets and futures trading platform is operating in Australia without the required financial services authorization.
In a statement released Wednesday, the regulator said it had removed several websites purportedly operated by Yepbit after receiving reports from investors who said they could not access their funds.
"ASIC has taken action to protect consumers through its website takedown capability, by removing several websites purportedly operated by Yepbit," the regulator said.
"We have also issued warnings on our Investor Alert List." According to the statement, investors told ASIC that Yepbit had claimed the regulator froze their funds while the platform complied with ASIC audits or regulatory requirements.
ASIC said those claims were false and that it had not taken steps to prevent the return of funds held by Yepbit.
