Huaisong Xiang
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Huaisong 'Jerry' Xiang, age 30, of Jersey City, New Jersey, is a former Robinhood Crypto software engineer charged on September 15, 2026 by the U.S. Attorney's Office for the Southern District of New York with one count of commodities fraud and one count of wire fraud. Prosecutors allege he misappropriated confidential token-listing information from a restricted internal Slack channel and used it to trade perpetual futures on Hyperliquid, a decentralized derivatives exchange, ahead of at least 11 public listing announcements between March 2025 and February 2026, allegedly profiting more than $50,000. Xiang has been charged but not convicted; the case is pending as of the investigation date.
Connected Entities
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Timeline(6 events)
1 January 2024
Huaisong Xiang joins Robinhood Crypto as a software engineer (approximate date; precise start date not publicly reported). He is designated a 'Coin Aware Individual' with access to a restricted Slack channel for token listing operations.
Blockonomi1 March 2025
Prosecutors allege Xiang's first front-running trade, involving Popcat (POPCAT) perpetual futures on Hyperliquid, occurs in March 2025, ahead of a Robinhood listing announcement.
DOJ SDNY / multiple news outlets1 March 2025
Alleged scheme period begins. Prosecutors allege both Xiang and co-defendant Hefu Chai repeatedly purchased Hyperliquid perpetual futures ahead of Robinhood token listing announcements from March 2025 onward.
DOJ SDNY Press Release28 February 2026
Alleged scheme period ends, according to prosecutors, in approximately February 2026.
Almanac News / DOJ reporting15 September 2026
U.S. Attorney's Office for the Southern District of New York unseals charges against Huaisong Xiang and co-defendant Hefu Chai. Each faces one count of commodities fraud and one count of wire fraud.
DOJ SDNY Press Release16 September 2026
Xiang scheduled to appear before United States Magistrate Judge Ona T. Wang in Manhattan for initial proceedings. Multiple news outlets report on the arrests and arraignment.
Disruption Banking / Crypto TimesDecision Log
- hash: 8m2sfJnwH9Ms56zkg8ctg7EhhZ3temu2HY89SyViGNmS
This investigation is cryptographically anchored to the Solana blockchain (1 event). 0 of 9 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/23/2026, 5:06:33 PM
last updated: 9/23/2026, 5:11:24 PM
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