Wu Blockchain (@WuBlockchain): Two Robinhood Engineers Charged With Trading on Confidential Crypto Listing Information

Two Robinhood Engineers Charged With Trading on Confidential Crypto Listing Information The U.S. Attorney’s Office for the Southern District of New York charged Robinhood engineers Hefu Chai and Huaisong Xiang with commodities fraud and wire fraud for allegedly using confidential information about upcoming Robinhood Crypto listings to trade related perpetual futures on Hyperliquid before the listings were publicly announced. Prosecutors said the two repeatedly carried out the trades between 2025 and 2026 and each made more than $50,000 in illicit profits. Each faces one count of violating the Commodity Exchange Act, which carries a maximum prison term of 10 years, and one count of wire fraud, which carries a maximum of 20 years.