Blockchain analytics firm Kaiko identified a crypto wallet, 0xa1E, that executed trades on Hyperliquid perpetuals consistently ahead of major Robinhood announcements. Analysts suggest the wallet may have had insider access to the brokerage's listing pipeline.
On January 15, 2026, the wallet opened a long position in Lighter (LIT) perpetuals at approximately $1.96. Just over an hour later, Robinhood announced the listing of LIT, and the position was closed after the price rose.
On April 28, 2026, the same wallet opened a short position on HOOD perpetuals at about $81.99, hours before Robinhood reported Q1 2026 revenue of $682 million, which fell short of the expected $695 million.
Kaiko also reported abnormal spikes in open interest and funding rates on Hyperliquid for ZEC, SNX, and NEAR tokens prior to their listings on Robinhood. Hyperliquid's on-chain order book allows for the public tracking of these trades.
No formal charges have been filed by the Department of Justice or the SEC linking Robinhood employees to the wallet. Hyperliquid previously investigated insider trading involving its own HYPE token in late 2025, which resulted in the termination of a former employee.
