Hyperliquid Named on Singapore MAS Investor Alert Register

TLDR

• Singapore’s Monetary Authority of Singapore added Hyperliquid to its Investor Alert List.
• The listing includes the Hyper Foundation website and Hyperliquid trading application.
• MAS clarified that inclusion on the list does not mean a ban or enforcement action.
• Hyperliquid stated it has never claimed to be licensed or regulated by MAS.
• The platform said its permissionless infrastructure remains unchanged despite the listing.

Singapore’s financial regulator has added a decentralized exchange to its public warning list. The move names Hyperliquid and related platforms in a consumer advisory update. The listing clarifies that inclusion does not mean a ban or enforcement action.

Hyperliquid appears on MAS Investor Alert List

The Monetary Authority of Singapore has placed Hyperliquid on its Investor Alert List. The entry includes the Hyper Foundation website and the Hyperliquid trading application.

MAS uses this list to flag entities that may appear licensed or regulated. However, the regulator states that listing does not confirm any legal violation.

Hyperliquid responded to the update through an official statement. The platform said it has never claimed authorization from MAS at any time.

It added that its permissionless infrastructure remains unchanged. The team stated it will continue engaging with regulators across different jurisdictions.

“The Hyperliquid ecosystem remains committed to engaging collaboratively with regulators,” the platform said in its X post. The statement also supports clear frameworks for onchain finance.

Singapore expands oversight on crypto firms

Singapore authorities have increased scrutiny on digital asset platforms over recent years. The regulator continues to enforce licensing requirements across the sector.

In May 2025, MAS directed firms serving overseas clients to obtain licenses or stop operations. The directive addressed firms operating from Singapore without local approvals.

MAS explained that the move reflects an existing policy stance. The regulator said it had communicated this requirement consistently since 2022.

The directive also closed a gap that allowed firms to avoid licensing by targeting foreign users. As a result, firms had to adjust operations or exit the market.

The regulator linked these actions to stronger consumer safeguards. It also aligned the framework with anti-money laundering and counter-terrorism financing standards.

MAS continues to publish updates through its alert list and regulatory notices. The agency maintains its focus on transparency and compliance within the crypto sector.

Market context and exchange rankings

Hyperliquid operates as a decentralized perpetual exchange within the crypto market. The platform currently ranks among the leading decentralized exchanges by trading activity.

According to CoinGecko, Hyperliquid stands as the ninth-largest decentralized exchange by volume. The ranking reflects current market data across trading platforms.

DefiLlama estimates the platform holds about $5.7 billion in total value locked. This figure tracks assets secured within its protocol ecosystem.

Other exchanges also appear on the MAS Investor Alert List. These include Bybit, KuCoin, and Bitget, based on earlier entries.

MAS added Bybit to the list on June 17 as part of ongoing updates. The regulator continues to monitor platforms that operate without local authorization.

The alert list remains publicly accessible for users and institutions. It provides updated information on entities that may appear regulated in Singapore.