Two Robinhood Engineers Front-Ran Their Own Company's Token Listings on Hyperliquid. They Made $50K Each. They're Facing 30 Years.
Hefu Chai and Jerry Xiang were 'Coin Aware Individuals' with access to Robinhood's private listings Slack channel. Prosecutors say they bought Hyperliquid perps on POPCAT, HYPE and RENDER minutes before the announcements went out, across at least 21 listings. An anon on X flagged the exact pattern a year ago. Now SDNY is bringing what looks like the first Commodity Exchange Act case over trades on a DEX.