The Securities and Exchange Commission has issued a public warning against Yepbit Exchange and Bonchat, cautioning Ghanaians that the two platforms are not licensed to offer investment services in the country.
In a notice dated July 15, 2026, the regulator said the platforms are suspected fraudulent investment schemes soliciting funds from the public through digital and crypto asset channels without approval from the Commission.
The latest advisory comes at a time when online investment schemes are becoming increasingly common, with many using social media campaigns, referral programmes and promises of exceptional returns to attract investors.
"The SEC wishes to alert the General Public to a suspected fraudulent investment scheme operating under the name(s) YEPBIT EXCHANGE and BONCHAT," the Commission said.
It added that "YEPBIT EXCHANGE and BONCHAT are not licensed by the SEC."
Public urged to verify before investing
The Commission advised prospective investors to confirm the regulatory status of any company offering investment or trading services before transferring money.
It also warned against platforms advertising guaranteed or unusually high returns, saying such promises often serve as red flags rather than investment opportunities.
The SEC further urged the public to avoid schemes where earnings depend primarily on recruiting new participants, noting that such models frequently resemble pyramid schemes that collapse once new members stop joining.
The warning was issued under Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929), as amended.
Digital investment risks growing
The regulator's caution reflects a wider challenge facing Ghana's financial sector, where unlicensed operators increasingly use digital platforms and crypto-related products to reach potential investors.
Many of these ventures market themselves as cryptocurrency exchanges, automated trading systems or online investment communities.
Professional-looking websites and persuasive testimonials can create the impression of legitimacy, but the absence of regulatory approval leaves investors exposed if problems arise.
Without licensing, investors may have little legal protection when withdrawals are delayed, accounts are frozen or operators disappear altogether.
Investor protection starts early
The SEC said members of the public should report suspicious investment platforms to the Commission and exercise greater caution before committing funds.
While the warning specifically names Yepbit Exchange and Bonchat, it also serves as a broader reminder that digital investment platforms should not be assumed to be credible simply because they operate online or claim to deal in crypto assets.
For the regulator, the message remains straightforward. Investor protection begins long before money changes hands. The first step is always the same: verify whether the person or company offering the investment is properly licensed to operate in Ghana.
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