Robinhood engineers charged over fraudulent Hyperliquid trades
Two Robinhood engineers have been accused of using the platform’s confidential crypto listings to insider trade perpetual futures on the decentralized derivatives exchange Hyperliquid. The US filed the charges yesterday against 36-year-old Hefu Chai and 30-year-old Huaisong Xiang, accusing them of wire fraud and commodities fraud. Their knowledge of Robinhood’s plans to support certain cryptocurrencies was allegedly used to trade positions on Hyperliquid, which in turn constituted a breach of duty. Across 2025 and 2026, each of them allegedly made over $50,000 trading with the undisclosed information. Coinbase insider trading case ends with guilty plea Read more: Did ‘insider’ secretly short Robinhood on Hyperliquid? US attorney Jamie McDonald said, “Today’s charges make clear that corporate insiders cannot evade the securities and commodities laws by trading based on misappropriated information in derivatives like perpetual futures, tokeni...