Yesterday the force asked for information after three children aged seven, eight and nine who were walking a dog were approached by three youths wearing balaclavas who assaulted, threatened and possibly filmed them.
However, police now say that the incident was 'not as first reported'.
It was alleged to have taken place on a field behind the Flaxley Road allotments on the afternoon of April 13.
The update read: "Yesterday police released an appeal in relation to an incident that occurred on Flaxley road in Selby last Wednesday.
"We are now able to confirm that the circumstances of this incident are not as they were initially reported and the investigation is now closed.
"We would like to reassure the public that we take all reports of crime seriously and would also like to thank any members of the public that assisted with our enquires."
A Gofundme page believed to have been set up by a parent of one of the children has now been taken offline.