Woofun AI reports that the Monetary Authority of Singapore (MAS) added decentralized perpetuals exchange Hyperliquid to its Investor Alert List on Friday. The entry explicitly covers the Hyper Foundation website and the Hyperliquid trading app to prevent consumer confusion regarding regulatory status.

This consumer protection measure identifies entities that may be wrongly perceived as licensed or regulated by MAS without constituting a formal ban or enforcement action. Bybit was previously added to this list on June 17, joining KuCoin and Bitget in the registry of unlicensed platforms operating within the jurisdiction.

Hyperliquid stated that it has never claimed to be licensed or authorized by MAS and confirmed that nothing about its permissionless infrastructure has changed following the listing. The platform reiterated its commitment to engaging collaboratively with regulators globally while maintaining its current operational model.

Woofun AI data shows Hyperliquid ranks as the ninth-largest decentralized exchange by trading volume according to CoinGecko, while DefiLlama estimates it holds about $5.7 billion in total value locked. These figures underscore the platform's significant market presence despite its exclusion from Singapore's formal licensing framework.

Singapore has steadily tightened oversight of the cryptocurrency industry in recent years to close regulatory gaps. In May 2025, MAS ordered crypto companies serving overseas customers to either obtain licenses or cease operations, eliminating a loophole that allowed firms to avoid licensing by serving only non-resident clients.

MAS stated these measures are intended to strengthen consumer protection and align Singapore's crypto framework with international Anti-Money Laundering and Countering the Financing of Terrorism standards. This addition marks another step in the regulator's systematic effort to clarify the boundaries between permissionless protocols and licensed financial services.