The Australian Securities and Investments Commission has officially blocked several websites related to the Yepbit trading platform. This decision was made after numerous complaints from customers who faced serious problems when trying to withdraw their funds. It is worth noting that this is not the first warning from the Australian regulator. Back in March 2000, the agency for the first time included this platform in the official list of suspicious projects. The Commission stressed that Yepbit does not have the necessary Australian license to provide financial services. The management of the platform tried to justify the delays in payments, stating that the problems with the withdrawal of funds were allegedly related to some checks by the regulator itself. However, ASIC has categorically denied these claims, calling them lies. Representatives of the department said that such statements are only intended to distract users' attention from their legitimate requests for refunds. The regulator emphasized that it had taken absolutely no steps that could prevent the return of assets held in the company's accounts.

The exact number of affected investors and the total amount of financial damage from the actions of this scheme have not yet been disclosed. Independent publications and relevant experts openly call the platform a fraudulent scheme. According to BehindMLM, a specialized magazine, the service functions as a classic pyramid scheme in partnership with the fictitious organization Fidelity Capital Investment Group. It is noteworthy that the head of this structure is allegedly a certain Jonathan Brooke, who, according to investigations, is a completely fictional character generated using artificial intelligence technologies. The mechanism of customer deception was described in detail by one of the affected users on the popular Reddit forum. Despite the fact that Yepbit positions itself as a full-fledged exchange for trading crypto assets and derivative products, in practice the service does not provide any real trading functions.

According to the deceived investor, in order to start working, clients were asked to make an initial payment in the amount of five hundred to three thousand dollars. After that, users received so-called trading instructions, which consisted of simply copying the code from the Bonchat application and pasting it into the Yepbit interface. When customer funds were blocked, fraudsters began demanding additional assets under the pretext of unblocking the account.