SEC warns public against YEPBIT Exchange and BONCHAT over suspected investment fraud

By Prince Antwi July 16, 2026

The Securities and Exchange Commission (SEC) has advised the public to avoid investing with two digital investment platforms, YEPBIT Exchange and BONCHAT, which it suspects of operating fraudulent schemes without regulatory approval.

The regulator said initial investigations have revealed that the two platforms are soliciting funds from the public, including through digital and cryptocurrency-related channels, despite not being licensed to offer investment services in Ghana’s capital market.

In a public notice issued on Wednesday, July 15, 2026, the SEC stated that neither YEPBIT Exchange nor BONCHAT has received authorisation to provide investment or trading services in the country.

“The SEC wishes to alert the General Public to a suspected fraudulent investment scheme operating under the name(s) YEPBIT EXCHANGE and BONCHAT, which is soliciting investments from members of the public, including through digital/crypto-asset platforms. YEPBIT EXCHANGE and BONCHAT are not licensed by the SEC,” the Commission said.

The SEC urged investors to confirm the licence status of any company offering investment opportunities before committing their money.

The Commission also cautioned the public against platforms that advertise unusually high or guaranteed returns, as well as schemes where participants make money mainly through recruiting new members.

It advised investors to remain vigilant and report any suspicious investment activities as the regulator continues efforts to protect consumers and safeguard confidence in Ghana’s financial markets.

The warning comes amid growing concerns over online investment scams and unregulated digital asset platforms targeting unsuspecting members of the public.

The SEC said the notice was issued under Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929), as amended, which empower the Commission to protect investors and uphold the integrity of Ghana’s securities market.