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Robinhood Engineers Charged with Alleged Insider Trading of Cryptocurrency Tokens

Guavy AI Editorial Team
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Two former Robinhood engineers, Hefu Chai and Huaisong 'Jerry' Xiang, have been charged by US prosecutors for allegedly using confidential internal information to profit from cryptocurrency token listings.

The Department of Justice (DOJ) alleges that the two men bought perpetual contracts connected to tokens on Hyperliquid shortly before they debuted on Robinhood Crypto, earning more than $50,000 in profits between 2025 and 2026.

Prosecutors claim that Chai and Xiang accessed nonpublic listing plans via a private Slack channel and traded perpetual futures ahead of announcements, violating a company policy restricting members from trading within 24 hours before or after a listing announcement.

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