Two Robinhood engineers, Hefu Chai and Huaisong Xiang, have been charged in the US for allegedly using the company’s confidential information to trade crypto perpetual futures on the Hyperliquid platform. According to the US Department of Justice, the two engineers exploited information about upcoming cryptocurrency listings on Robinhood Crypto before they were publicly announced, generating over $50,000 in profits each between 2025 and 2026. They face charges of commodities fraud and wire fraud, carrying maximum sentences of 10 and 20 years imprisonment respectively. Chai, 36, is from Menlo Park, California, while Xiang, 30, is from Jersey City, New Jersey.
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