TL;DR: the short answer

ASIC warns against dealing with Yepbit and Yepbit Exchange after reports that investors cannot withdraw funds, and says the firm's claim that ASIC froze funds is false.

Scambaba rates Yepbit and Yepbit Exchange critical risk with a risk score of 9.5/10, last verified 2026-10-24.

Key facts

Key risk attributes for Yepbit and Yepbit Exchange
Risk score 9.5 / 10 (Critical Risk)
Status ASIC warning; Investor Alert List warnings issued
Category Crypto / Forex Scam
Primary scam vector Digital asset and futures trading platform; investors report being unable to withdraw
Reported domains
  • yepbit6.com
  • ybtaa.com
  • yepbit.xyz
  • yepbit.net
First listed 2026-10-24
Last verified 2026-10-24

Red flags reported for Yepbit and Yepbit Exchange

  • Reports from investors that they cannot withdraw funds
  • No Australian Financial Services Licence
  • Not on AUSTRAC's Virtual Asset Service Provider Register
  • False claim that ASIC froze investor funds
  • Multiple websites, several removed by ASIC

Detailed threat analysis

What the regulator says

ASIC published a warning titled 'ASIC warns against Yepbit and Yepbit Exchange' (the page shows no date). ASIC says it received reports that investors cannot withdraw funds and that Yepbit presents itself as a digital assets and futures trading platform operating globally, including in Australia. ASIC says Yepbit's claim that ASIC froze investor funds is false: 'ASIC has not taken steps to prevent return of funds held by Yepbit.' It says Yepbit does not hold an Australian Financial Services Licence and is not on AUSTRAC's Virtual Asset Service Provider Register, that it has removed several websites purportedly operated by Yepbit and issued Investor Alert List warnings, and that it cautions against dealing with this firm. The previously warned domains are listed on the page.

How this type of scam usually works

A common stalling tactic is to blame a regulator or 'frozen' account for blocked withdrawals while asking for more money. Fake investment websites typically show rising balances to encourage larger deposits, accept cryptocurrency because it is hard to trace, and then block withdrawals or demand fees or 'tax' payments. Recovery is rarely possible once funds have moved.

How to check a firm yourself

Search the firm on ASIC's Professional Registers for an Australian financial services (AFS) licence, and check the Moneysmart Investor Alert List. Use contact details you find independently rather than those given to you, and be cautious about any unsolicited investment offer or promised returns that look too good to be true.

What to do if you dealt with Yepbit and Yepbit Exchange

  1. 01Stop sending money and do not pay any further fees or 'tax' to release funds.
  2. 02Contact your bank or financial institution immediately to ask about tracing or recalling payments.
  3. 03Report the scam to Scamwatch (scamwatch.gov.au) and, if you are in Australia, to ReportCyber (cyber.gov.au).
  4. 04Check the ASIC Moneysmart Investor Alert List and consider reporting misconduct to ASIC.
  5. 05Contact IDCARE (idcare.org) for support if you shared personal details or ID.

Frequently asked questions

Is Yepbit legit?

ASIC cautions against dealing with Yepbit and Yepbit Exchange, saying it holds no Australian Financial Services Licence and that it received reports of investors being unable to withdraw funds.

Did ASIC freeze Yepbit investors' funds?

ASIC says that claim is false and that it has not taken steps to prevent return of funds held by Yepbit.

Sources

  1. ASIC warns against Yepbit and Yepbit Exchange, Australian Securities and Investments Commission

This report reflects publicly available information and reported patterns as of 2026-10-24. It is an opinion, not a legal determination. Spot an error or represent this entity? See our editorial and corrections policy.