Foresight News reports that blockchain analysis platform Bubblemaps monitored that Trove Markets’ project team quietly refunded KOLs despite pre-sale participants losing their entire investment. Trove raised $11.5 million through an ICO to build the project on the Hyperliquid platform, but things did not go as planned. Before the project launch, external liquidity providers sold off $20 million worth of HYPE tokens; subsequently, the team shifted to the Solana platform, and the TROVE token plummeted 99% at launch, causing heavy losses for ICO participants.
Bubblemaps, by monitoring wallets associated with TROVE deployers, found that one day after the token crash, $100,000 worth of USDC and $350,000 worth of USDT were transferred to newly funded wallets. The organization stated that it has on-chain evidence and leaked chat records proving that the project team engaged in improper behavior, treating investors differently.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Massachusetts city to weigh crypto ATM ban, citing financial risks
The city council of Haverhill, Massachusetts is set to consider a ban on cryptocurrency ATMs following a proposal for an ordinance introduced on March 17.
According to Haverhill City Council’s agenda, the government body is scheduled to review a crypto ATM ordinance introduced by Mayor Melinda
Cointelegraph49m ago
Crypto dispute over Resupply exploit lands in Singapore harassment court
A Singapore court has ordered crypto figures Wang Lei and user "web3feng" to cease defamatory statements targeting Curve contributor Wang Haoming following online accusations related to a 2025 DeFi exploit. They must pay approximately $1,900 in compensation.
Cointelegraph4h ago
Singapore orders a halt to disputes related to the Resupply hack amid the smear campaign in the crypto war
Singapore orders to stop disputes related to the Resupply hack in the crypto smear war
A court in Singapore has ordered OneKey founder Wang Lei and a user on X to end threatening and defamatory accusations aimed at a collaborator involved with Curve, after a dispute
TapChiBitcoin5h ago
U.S. prediction markets face a legislative crackdown, as multiple bills are set to ban election and sensitive event contracts
The U.S. prediction market industry faces legislative pressure amid rapid expansion, with monthly trading volume rising from $1.2 billion to $20 billion. Six bills are being advanced by Congress, covering contracts that would prohibit insider trading and related sensitive events, while multiple states have filed lawsuits against the relevant platforms and regulation is tightening.
GateNews5h ago
U.S. lawmakers bring up another major bill: “de-Sinofication” of the mining industry, and Bitcoin reserves included in the law
U.S. Senators Bill Cassidy and Cynthia Lummis introduced a new “American Mining Act,” aimed at promoting domestic Bitcoin mining, reducing reliance on Chinese equipment, and incorporating a Bitcoin strategic reserve into the legal framework. The bill establishes a mine certification system, encourages local equipment manufacturing, and emphasizes the role of encrypted mining infrastructure. As competition in science and technology between the U.S. and China intensifies, mining has become a new focus, and the U.S. is accelerating regulation of relevant Chinese companies.
区块客5h ago
U.S. Charges Suspect in $54M Uranium Finance Exploit as DeFi Crackdown Intensifies
A Maryland man has been charged with exploiting vulnerabilities at Uranium Finance, resulting in a $54 million loss. Prosecutors allege he hacked the platform, laundered the funds through high-value collectibles, and could face decades in prison.
LiveBTCNews9h ago
