ASIC shuts crypto exchange Yepbit websites after investors report blocked withdrawals

The Australian Securities and Investments Commission has taken down several websites linked to Yepbit after investors reported being unable to withdraw funds from the digital asset and futures trading platform. Summary ASIC has taken down several websites linked to Yepbit after investors reported being unable to withdraw funds from the platform. Yepbit allegedly told investors that ASIC had frozen their funds during regulatory checks, a claim the regulator said was false. Yepbit does not hold an Australian Financial Services Licence and is not registered with AUSTRAC as a virtual asset service provider. ASIC has added warnings about Yepbit to its Investor Alert List and cautioned consumers against dealing with the platform. ASIC said it received multiple reports from investors who could not retrieve money held through Yepbit, which presents itself as a global trading platform and offers its services to users in Australia. The regulator has now cautioned consumers against dealing with the firm and added warnings to its Investor Alert List. Yepbit has also told investors that their funds were unavailable because ASIC had frozen the money while the platform underwent regulatory checks...