Cryptocurrency exchange Bybit has been added to the Monetary Authority of Singapore’s (MAS) Investor Alert List, a registry designed to warn consumers about entities that may be wrongly perceived as licensed or regulated by the financial watchdog.
Bybit Fintech Limited and Bybit appeared on the MAS alert list on Wednesday, although the regulator did not provide a specific reason for their inclusion.
Bybit Fintech Limited, the legal entity behind the exchange, appears on the MAS Investor Alert List website. Source: BUT
According to the MAS, the Investor Alert List identifies entities and investment offerings that may create the false impression of being licensed, authorized, regulated or registered by the authority, or whose investment offerings may be incorrectly considered to have received MAS approval.
Based on publicly available information, Bybit is neither authorized nor regulated by MAS. Cointelegraph reached out to a Bybit spokesperson for comment but did not receive a response at the time of publication.
Although Bybit was founded by Singaporean entrepreneur Ben Zhou, the exchange does not operate in the city-state. Singapore is listed among the company’s “restricted service countries” on its websitewhich means that users from the jurisdiction are not allowed to access its services.
Related: SBI Holdings aims for majority stake in Singapore crypto exchange Coinhako
Singapore Maintains Strict Oversight of Crypto Sector
Singapore has consolidated its position as a leading crypto hub, ranking among the world’s leading jurisdictions for decentralized finance and institutional digital asset services in Chainalysis’s 2025 Global Crypto Adoption Index. Retail crypto adoption, however, is significantly lower.
The MAS has continued to take an assertive approach to industry oversight. In May, the regulator revoked the major payment institution license of crypto-liquidity provider Bsquared Technology after discovering what it described as serious regulatory violations, including weaknesses in risk management and conflicts of interest policies.
MAS also said the company provided false or misleading information on multiple occasions, from its initial license application to a subsequent inspection.
Furthermore, the Singapore Police Force Zhu Juntao, CEO of Hodlnaut in May with six counts of fraud for allegedly misleading customers about the crypto lender’s exposure to the collapse of the Terra ecosystem in 2022.
Hodlnaut, a Singapore-based crypto lending platform that once served tens of thousands of users, suspended withdrawals in August 2022 following the implosion of Terra and was subsequently ordered liquidated.
Regulator placed Binance.com on its investor alert list in 2021, The Straits Times reported at the time. However, a search of the list on Wednesday showed no mention of Binance among the 910 records in the query.
Related: Singapore Gulf Bank adds stablecoin and exchange for 24/7 settlement
