The Securities and Exchange Commission (SEC) has issued a warning regarding two digital investment platforms – YEPBIT Exchange and BONCHAT, labelling them as suspected fraudulent investment schemes and advising the public to refrain from investing through either platform.
The regulator indicated that preliminary intelligence suggests both entities are soliciting investments from the public, including via digital and crypto-asset channels, despite lacking the necessary licenses to operate within Ghana’s capital market.
In a public notice released on July 15, 2026, the SEC emphasised that neither YEPBIT Exchange nor BONCHAT has obtained regulatory approval to offer investment or trading services in Ghana.
“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.”
This recent warning illustrates the regulator’s continuous efforts to strengthen oversight of Ghana’s swiftly changing digital investment environment, in light of increasing concerns regarding online platforms that promise rapid returns without regulatory approval.
In its advisory, the Commission urged prospective investors to verify the licensing status of any investment firm before allocating funds and to be cautious of schemes that promote unusually high or guaranteed returns.
The regulator also cautioned investors to be vigilant of platforms whose profits are mainly dependent on recruiting new participants, a characteristic often linked to fraudulent investment schemes.
“Verify the licensing status of any entity offering investment or trading services before investing. Be wary of schemes promising unusually high or guaranteed returns. Avoid schemes where earnings depend primarily on recruiting others.”
Additionally, the SEC encouraged the public to report any suspicious investment platforms to the Commission, as this helps the Commission amplify its efforts to protect investors and maintain confidence in Ghana’s capital market.
This latest alert arises as regulators worldwide enhance their scrutiny of digital investment products and crypto-related schemes, in response to the increasing incidents of online financial fraud targeting retail investors.
The Commission stated that the notice was issued in accordance with Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929), as amended, reaffirming its legal obligation to safeguard investors and uphold the integrity of Ghana’s securities market.
