Australia Shuts Down Digital Asset Platform Yepbit, Denies Freezing User Funds
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The Australian Securities and Investments Commission (ASIC) has shut down multiple websites of the digital asset platform Yepbit and warned users against trading with the platform. ASIC received reports from investors stating they were unable to withdraw funds from Yepbit. Yepbit claims that its funds have been frozen, but ASIC stated that this claim is fabricated, aimed at delaying refunds to investors. Yepbit does not hold an Australian financial services license and is not registered with AUSTRAC as a virtual asset service provider. ASIC reminds investors to verify the licensing of platforms and to exercise caution with investment opportunities that cannot be verified.
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