TROVE issuance sparks controversy: On-chain data shows some KOLs have received refunds, and the project's response raises questions

DeepFlowTech · 2026-03-02T04:12:39+00:00

The issuance of the TROVE project has sparked controversy, with analysts stating that multiple KOLs involved in promotion received refunds totaling approximately 171,000 USDC. The developers promised to resolve the issue, but external skepticism remains regarding control of ICO funds. The incident may involve fraudulent fundraising, and a complete fund audit report has not yet been released.

DeepFlowTech

2026-03-02 04:12:39

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Deep Tide TechFlow News, March 2nd, according to previous disclosures, on-chain analyst Eye, who revealed the “1011 Insider Whale” on the X platform, stated that the controversy surrounding the TROVE project’s “catastrophic” token launch continues to escalate. Multiple on-chain data indicate that project-related addresses refunded some KOLs (Key Opinion Leaders) after the token went live and have received refunds, raising community questions about the flow of funds and fundraising structure. According to disclosed information, within days of TROVE’s launch, several participating KOLs privately requested repayment, and some addresses confirmed receiving refunds. Based on public addresses and on-chain data, approximately 171,000 USDC has been confirmed refunded to certain KOLs. Further on-chain analysis suggests the total refund amount to the KOL group may be around 3 million USD.

Trove Markets developer Unwise previously stated, “We will not run away and will resolve the current issues,” but external skepticism remains regarding their control over ICO funds, with inconsistent statements. This incident may involve creating a false appearance of high fundraising through LP loans to boost market enthusiasm, which, amid a rapid decline in token prices, has triggered disputes over fund repayment. Currently, related accusations are based on on-chain data and multiple leaks; the project team has not yet released a full fund audit report.

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