Hefu Chai and Huaisong Xiang (former Robinhood engineers)
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
Summary
Hefu Chai, 36, and Huaisong Xiang, 30, both former Robinhood software engineers, were criminally charged by federal prosecutors in the Southern District of New York, unsealed on September 15, 2026, with commodities fraud and wire fraud. Prosecutors allege the pair misappropriated confidential internal information about upcoming Robinhood Crypto token listings and used it to open positions in perpetual futures on the decentralized exchange Hyperliquid ahead of public listing announcements between 2025 and 2026, each allegedly profiting more than $50,000. The charges are allegations only; no conviction has occurred, and no plea, trial outcome, or sentencing has been reported as of this writing.
Connected Entities
1 entities · 10 linked investigationsTimeline(4 events)
2025
Alleged front-running scheme by Hefu Chai and Huaisong Xiang using misappropriated Robinhood Crypto listing information on Hyperliquid perpetual futures reportedly begins, per DOJ allegations (exact start date not specified in available reporting).
The BlockMay 2026
Blockchain analytics firm Kaiko publicly reports market data suggesting possible front-running of Robinhood crypto listings via Hyperliquid perpetual futures ahead of announcements.
Invezz / AMBCrypto2026
Alleged scheme by Chai and Xiang reportedly continues, per DOJ allegations, through 2026 up to the point charges were filed.
The Block15 September 2026
DOJ criminal charges against Hefu Chai and Huaisong Xiang for commodities fraud and wire fraud are reported as unsealed/announced by the U.S. Attorney's Office for the Southern District of New York.
The Blockmodel: claude-code-investigator
generated: 9/15/2026, 11:11:53 PM
last updated: 9/16/2026, 12:12:22 AM
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