The U.S. Department of Justice has charged two Robinhood engineers, Hefu Chai and Huaisong Xiang, with commodities and wire fraud. Both earned over $50,000 each by front-running tokens that were to be listed on the platform, trading them on Hyperliquid before the public announcement. The U.S. Attorney for the Southern District of New York stated that corporate insiders cannot evade securities and commodities laws by trading on misappropriated information in instruments like perpetual futures or tokenized securities. The DoJ is intensifying its scrutiny of the crypto sector and pursuing front-running practices.
Source: Read the original article
