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.
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