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
Mysterious Account Precisely Bets on Iran Strikes, Trump Camp Faces "Insider Trading" Allegations
Due to the global financial markets being closed, investors flooded into prediction markets and decentralized exchanges, attempting to bet on the impact of the US and Israel's attack on Iran. This subsequently sparked a public outcry, accusing insiders of profiting from insider information. Kalshi's CEO responded by saying they would refund the fees, but the user dissatisfaction has not been fully alleviated.
GateNews1h ago
Polymarket New Account Precisely Bets on "Airstrikes on Iran Before End of February," Profits Over One Million Dollars
Recently, the conflict between the United States and Iran has intensified, leading to a surge in trading volume on Polymarket. Some newly created accounts successfully placed bets and made millions in profit before the airstrikes, raising concerns about insider trading. This incident highlights the regulatory gray area in prediction markets, the urgent need to address information asymmetry issues, and presents new challenges to the financial markets.
ChainNewsAbmedia4h ago
South Korea's National Tax Service accidentally exposed wallet seed phrases, leading to the instant theft of $4.8 million in crypto assets
South Korea's National Tax Service unexpectedly disclosed the 12-word seed phrase for a cryptocurrency wallet, resulting in approximately $4.8 million worth of digital assets being stolen within a few hours. This incident has raised cybersecurity alerts and exposed government negligence in managing crypto assets. Authorities have launched an investigation. This is the third related incident in nearly three months, highlighting operational risks within the government.
ChainNewsAbmedia9h ago
Exaggeration » Korean Tax Agency Press Release Reveals Mnemonic, 6.4 Billion Won in Seized Assets Emptied Overnight
The Korean National Tax Service quickly transferred approximately $4.8 million worth of crypto assets after a mnemonic phrase in a press release was not masked, leading to a security breach. This incident is the third cryptocurrency theft in South Korea within the past three months. Experts criticize this as a reflection of law enforcement's insufficient understanding of crypto asset security and emphasize that mnemonic phrases should be strictly protected to prevent asset theft.
動區BlockTempo13h ago
Latam Insights: Brazil Introduces Crypto Tax Evasion Bill, El Salvador Finalizes New Bitcoin Diploma Program
Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this edition, a bill to criminalize crypto-linked foreign currency tax evasion surges in Brazil, El Salvador finalizes its Bitcoin Diploma 2.0 educational program, and Engie mulls
Coinpedia15h ago
