Trove Markets Secretly Refunds KOLs After Token Price Plummets, Leaving ICO Participants with Heavy Losses

Odaily News According to a disclosure by Bubblemaps on platform X, Trove Markets has quietly completed refunds for KOLs who participated in the presale, while other presale participants have suffered significant losses. By monitoring wallets associated with the TROVE token deployer, it was discovered that one day after the token crash, $100,000 worth of USDC and $350,000 worth of USDT were transferred to a newly funded wallet. On-chain evidence and leaked chat records have now been obtained, proving that the project team engaged in discriminatory treatment of investors.

After raising $11.5 million through an ICO in January, Trove stated it would retain $9,397,403 to continue building the PerpDEX on Solana. This move sparked strong community dissatisfaction, with its token price dropping over 95%, causing severe losses for ICO participants who accused the team of a rug pull. According to community feedback, the project had issues such as "paying KOLs for promotion, with funds flowing to deposit addresses on entertainment platforms."