trovemarkets

Проєкт Trove Markets, що створює децентралізовану біржу для торгівлі бессрочними контрактами на колекційні товари (як-от картки Pokémon), опинився в центрі гучного скандалу. Отримавши понад $11,5 млн від інвесторів під запуск на базі Hyperliquid, команда раптово оголосила про повний перехід на Solana.
Офіційна причина переїзду — проблеми з ліквідністю. Один із партнерів нібито відкликав 500 000 токенів $HYPE , які були необхідні для інтеграції згідно з протоколом HIP-3. Розробник під псевдонімом «Unwise» заявив, що це змінило всі обмеження, і тепер простіше побудувати DEX на Solana з нуля, ніж намагатися «залатати дірки» на рейках Hyperliquid.
Проте спільнота обурена: багато бекерів вимагають негайного повернення коштів, оскільки вкладали гроші саме в екосистему Hyperliquid. На тлі цих новин токен HYPE зазнав суттєвого тиску, а аналітики вже фіксують підозрілі перекази коштів з гаманців проєкту. Поки Trove готує механізм повернення та переносить TGE на вечір 19 січня, інвестори гадають: чи це реальна технічна необхідність, чи спроба втекти на більш хайповий блокчейн після збору капіталу.
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#TroveMarkets #solana #Hyperliquid #CryptoDrama #Web3Funding

This is not just another failed crypto launch. What happened with Trove Markets looks like a carefully optimized scam, executed step by step, with retail investors paying the price.
A Presale Built on Hype, Not Substance
Trove Markets positioned itself as a Perp DEX targeting retail traders across Asia–Pacific. During its presale, the project raised roughly 11.5 million USD from retail participants, implying a fully diluted valuation of around 20 million USD. Notably, there were no venture capital firms backing the project, no proven product, and no meaningful on-chain traction.
Despite these red flags, the presale was aggressively marketed, and many retail investors bought in, trusting the narrative rather than the fundamentals.
The TGE Collapse That Said Everything
At the Token Generation Event, $TROVE underwent a massive supply split, roughly a 10x increase. As a result, the token began trading at an implied valuation closer to 11 million USD. Within minutes, it collapsed further, briefly touching around 1 million USD in market cap.
At those levels, the only realistic sellers were insiders. Retail investors were effectively exit liquidity.
Scam Phase One: The Hyperliquid Pivot
Before the presale, Trove announced plans to integrate permissionlessly with Hyperliquid via HIP-3. To do this, they claimed to have raised around 20 million USD to acquire 500,000 HYPE tokens, a key requirement for the integration.
Shortly after the ICO, Trove abruptly announced a pivot away from Hyperliquid to Solana. The official explanation was that a liquidity partner had withdrawn the required HYPE tokens, making the integration impossible.
On-chain data told a very different story. Wallets linked to the project sold approximately 194,273 HYPE tokens, worth an estimated 10 to 12.9 million USD, within a 24-hour window. The selling started small and then accelerated. The founder denied controlling the wallet, but no credible explanation or refund followed.
In short, Hyperliquid was used as a hype engine to raise funds. The HYPE tokens were sold, and the project pivoted, leaving investors stranded.
Scam Phase Two: Paid Shilling and Influencer Silence
During the presale, several large KOLs promoted $TROVE without proper disclosure. One of the most controversial cases involved allegations that a well-known influencer received 8,000 USDC to promote the Trove ICO.
The accusations went beyond payment alone. There were already visible red flags around Trove before the presale, yet these were ignored. Promotional posts were published, but meaningful engagement or answers to community questions were noticeably absent. More concerning, some of this promotion allegedly occurred from jurisdictions where undisclosed paid advertising is not legally permitted.
Retail investors were led to believe they were seeing genuine opinions. In reality, much of the narrative was sponsored.
Scam Phase Three: Manipulating Polymarket
The Trove team did not stop at presale investors. They allegedly used presale fundraising figures to manipulate outcomes on Polymarket, exploiting market perception to influence betting results. This manipulation reportedly caused losses of up to 73,000 USD for some traders.
At this point, the pattern was clear. Anyone interacting with the Trove ecosystem became a potential target, whether they were investors, traders, or early supporters.
A Project That Extracted Value From Everyone
Trove Markets appears to have extracted value at every possible layer. Presale participants were diluted and dumped on. Prediction market users were manipulated. Early supporters who helped amplify the project narrative were discarded without hesitation.
It closely resembles a pyramid-style extraction model, where even early participants are sacrificed if doing so maximizes returns for those at the top.
Lessons the Crypto Market Cannot Ignore
Trove Markets should be treated as a case study, not an exception. When a project shows early red flags, the safest move is often to step aside, even if that means missing a potential upside. Cutting losses early is not weakness; it is discipline.
Trend-chasing projects with no product, no users, no revenue, and no reputable backers that rush to sell tokens are almost always designed for extraction rather than long-term value creation.
Geographic origin alone does not define legitimacy, but regions with historically high rates of developer scams demand extra scrutiny. Background checks, on-chain analysis, and independent verification are non-negotiable.
Most importantly, never rely on a single narrative on X. Look for dissenting opinions, follow on-chain data, and question anything that looks too clean, too fast, or too aggressively marketed.
In crypto, trust is expensive. Trove Markets is a reminder of how quickly it can be abused.
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