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Robinhood Engineers Accused of Insider Trading on Hyperliquid

Guavy AI Editorial Team
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Two engineers at Robinhood, Hefu Chai and Huaisong Xiang, have been charged with fraud in connection with insider trading on Hyperliquid.

The pair allegedly used their advance knowledge of upcoming token listings on Robinhood Crypto to buy futures contracts between 2025 and 2026, making over $50,000 each.

Hyperliquid is a decentralized exchange that offers perpetual futures, which are leveraged bets on a token's price that never expire.

The U.S. Attorney's Office for the Southern District of New York says the engineers misappropriated confidential information to trade in their own interests, violating the Commodity Exchange Act and committing wire fraud.

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