Bubblemaps disclosed on the X platform that Trove Markets refunded KOLs who participated in the pre-sale, but other investors suffered heavy losses. After the token collapse, it was found that the project team engaged in improper conduct towards investors and was suspected of improper fund flows, leading to strong community dissatisfaction and a significant drop in the token price.

The blockchain analysis platform Bubblemaps has detected that Trove Markets, after experiencing significant losses among presale participants, refunded KOLs and discovered that the project team transferred a large amount of funds after the token collapse. The organization has obtained evidence and accused the project team of misconduct.

Trove DEX recently launched the TROVE token, but the FDV plummeted from $20 million to approximately $950,000, causing significant losses for ICO participants. The project team reserved $9.4 million of ICO funds, which sparked strong dissatisfaction within the community, and accused them of misconduct, leading to damage to the project's reputation.

On January 19, news broke that the crypto project Trove Markets is facing strong skepticism and calls for refunds from supporters after suddenly abandoning its integration with Hyperliquid and fully migrating to the Solana network. Previously, Trove raised over $11.5 million through a token sale in early January, with the core narrative of this funding round centered around the Hyperliquid ecosystem. This strategic shift is seen by many participants as a "substantial change in direction." The Trove team explained on the X platform that the strategic pivot was due to changes in operational conditions. A developer named Unwise disclosed that a key liquidity partner withdrew approximately 500,000 HYPE tokens, which were originally intended to support the integration plan with Hyperliquid. With this support gone, the team decided to abandon the existing technical path and rebuild a decentralized exchange from scratch on Solana.

Over the next five days, more than 3.2 million HYPE tokens will be unstaked, including 1 million from Continue Fund and 1.5 million funded by Tornado Cash, which may be sold. Additionally, Trove is also unstaking 380,000 HYPE tokens.

ChainCatcher News, Trove recently announced that it will abandon its deployment plan on Hyperliquid and instead rebuild its TROVE token and perpetual contract DEX on Solana. Previously, liquidity providers supporting Hyperliquid withdrew 500,000 HYPE holdings, leading to a strategic adjustment for the project. The project team will arrange approximately $2.44 million in refunds for some ICO participants, and subsequent distributions will be handled through multi-signature accounts.

Trove Markets withdraws HYPE tokens due to liquidity partner withdrawal, decides to shift development to the Solana network, sparking community criticism and refund requests. The team will rebuild the DEX, and the TROVE token generation event is still planned, but migration and refunds will take more time.

Foresight News reports that, according to on-chain detective ZachXBT monitoring, the digital collectibles contract platform Trove transferred the $45,000 from its angel round financing directly into the prediction market on January 11.

The Trove token sale event has become one of the most controversial cases in the prediction market field in January 2026 and continues to trigger industry reflection. A well-known trader active on Polymarket, tsybka, publicly accused the Trove team of suddenly changing key rules just before the token sale was about to end, directly causing significant losses to multiple investors. From the course of the event, the core of the controversy occurred about five minutes before the originally scheduled end of the token sale. According to the allegations, the Trove team, without prior communication, temporarily adjusted the deadline for deposit receipts, causing the originally widely expected "on-time completion" of the sale conditions to change. This move quickly triggered sharp price fluctuations in the prediction market, and the prices of related contracts plummeted significantly in a short period.

Trove extends the deposit deadline to January 20 five minutes before the token sale ends, causing a massive buy order to appear on the Polymarket order book. Subsequently, Trove announced the cancellation of the extension and maintained the original schedule, resulting in significant losses for many traders, with one trader facing a loss of over $73,000.