The Block (@TheBlockCo): THE BLOCK: The DOJ charged Robinhood engineers Hefu Chai and Huaisong Xiang with commodities fraud and wire fraud, alleging they misappropriated confi…
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THE BLOCK: The DOJ charged Robinhood engineers Hefu Chai and Huaisong Xiang with commodities fraud and wire fraud, alleging they misappropriated confidential information about upcoming cryptocurrency listings on Robinhood Crypto and used it to trade perpetual futures on Hyperliquid. According to prosecutors, the two repeatedly took positions in tokens ahead of Robinhood’s public listing announcements between 2025 and 2026, with each allegedly profiting more than $50,000.