Robinhood Engineers Charged Over Crypto Listing Insiders
Two former Robinhood engineers have been charged by U.S. prosecutors for allegedly using nonpublic information on upcoming crypto listings to trade perpetual futures.
Hefu Chai and Huaisong Xiang, accused of misappropriating confidential info from 2025 to 2026, generated more than $50,000 in profits each during this time period, according to U.S. prosecutors.
The engineers allegedly built positions ahead of Robinhood's official listing announcements on the Hyperliquid platform and used nonpublic information to trade perpetual futures on upcoming tokens.