Federal prosecutors in Manhattan have charged two Robinhood engineers with commodities fraud and wire fraud, alleging they traded perpetual futures on Hyperliquid using confidential informati
Federal prosecutors in Manhattan have charged two Robinhood engineers with commodities fraud and wire fraud, alleging they traded perpetual futures on Hyperliquid using confidential information about which cryptocurrencies Robinhood was about to list.
Hefu Chai, 36, of Menlo Park, California, and Huaisong Xiang, 30, of Jersey City, New Jersey, each face one count under the Commodity Exchange Act and one count of wire fraud. The complaints were unsealed on Tuesday. The Justice Department describes both men as Robinhood employees; Robinhood has said they are former employees.
