UK FCA Warns Against Hyperliquid Over Unauthorized Financial Activities

The UK Financial Conduct Authority (FCA) issued a warning against the crypto trading platform Hyperliquid on May 21, 2026, stating that the firm may be providing or promoting financial services in the United Kingdom without regulatory authorization.

The warning was published on the FCA’s official Warning List under the name “Hyperliquid / www.hyperfoundation.org.” The notice listed associated websites, HyperFoundation.org and the decentralized trading platform app.hyperliquid.xyz, along with links to Hyperliquid’s accounts on X, Telegram, and Discord.

In the warning notice, the FCA said the firm “is not authorised by us and may be targeting people in the UK.” The regulator identified the entities as “Hyperliquid / www.hyperfoundation.org” and listed associated websites HyperFoundation.org and the decentralized trading platform app.hyperliquid.xyz.

The regulator warned UK consumers to avoid dealing with the firm and said users would not have access to protections typically available when using FCA-authorized financial companies. According to the notice, customers dealing with the platform would not be covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) if problems occur.

The FCA said firms operating or promoting financial services in the UK are generally required to be authorized or registered by the regulator. The agency added that unauthorized firms may provide misleading contact information or impersonate legitimate businesses to appear credible.

Hyperliquid has become one of the largest decentralized perpetual futures trading platforms in the crypto market over the past year, attracting significant trading volume through its on-chain derivatives infrastructure. The project operates through its own blockchain ecosystem and has expanded rapidly among retail crypto traders.

The warning comes as UK regulators continue to increase scrutiny of crypto trading platforms, token promotions, and offshore digital asset services that may be accessible to UK residents without local authorization.