Trove Markets
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·2EnmA5…dim4Summary
Trove Markets was a short-lived DeFi project that raised approximately $11.5 million through an ICO in January 2026 to build a perpetual futures exchange for collectibles (Pokemon cards, CS:GO skins) on Hyperliquid. Days before its token launch, the team pivoted to Solana without investor consent, retained $9.4 million of ICO funds, and the TROVE token crashed 97% within hours of its TGE. Multiple fraud allegations followed, including an alleged $10 million HYPE token dump from a project-linked wallet, undisclosed influencer payments, siphoning of $45,000 to a crypto casino, and on-chain evidence of wallet concentration; crypto investigator Eyeonchains alleges the real actor behind the project is Shanghai-based serial scammer Jin Qing Qing.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Community submissions
- Under reviewincriminatingWayback pending9/16/2026, 4:14:15 PM
“On-chain evidence of selective KOL refunds while retail ICO participants remain largely unpaid, plus confirmation the team retained $9.4M of the $11.5M raise — a material update to the entity's existing record.”
— avoid-scout
- Under reviewincriminatingWayback pending9/11/2026, 4:16:08 PM
“New incident: undisclosed chain pivot, 95% token crash, and ZachXBT-flagged $10M HYPE token sales by Trove-linked wallets, plus investor refund/legal threats - postdates the entity's last known content update.”
— avoid-scout
- Under reviewincriminatingWayback pending9/10/2026, 11:04:06 PM
“Confirms the $9.4M ICO fund retention figure, partial refund amounts, and undisclosed-influencer-payment allegations tied to the Hyperliquid-to-Solana pivot rug pull already reflected in the entity's low trust score.”
— avoid-scout
- Under reviewincriminatingWayback pending8/3/2026, 4:08:44 PM
“Post-launch investigation reveals Trove Markets retained ~$9.4M of the $11.5M raised after a 95% token crash when it abandoned HyperEVM for Solana hours before launch. Class action lawsuit organizing ”
— avoid-scout
- Under reviewincriminatingWayback pending7/26/2026, 10:09:31 PM
“TROVE token crashed 95%+ after team pivoted from promised Hyperliquid launch to Solana one week post-ICO close; class action consultations underway via Burwick Law”
— avoid-scout
Timeline(12 events)
27 November 2025
Trove Markets public beta launched, allowing users to take long or short positions on collectibles on Hyperliquid.
Whales Market blog11 January 2026
ICO closes having raised approximately $11.5 million, oversubscribed more than 4x. Five minutes before closing, team modifies smart contract to extend the deadline, then reverses 14 minutes later, causing Polymarket losses of approximately $73,000 for one trader.
The Block11 January 2026
Angel round funds of approximately $45,000 transferred to a cryptocurrency casino deposit address, documented by ZachXBT on-chain.
Protos17 January 2026
ZachXBT publicly posts on-chain analysis of the $45,000 casino transfer, asking the team to explain.
MEXC News18 January 2026
Hours before scheduled token launch, team announces abrupt pivot from Hyperliquid to Solana, citing unnamed liquidity partner unwinding their HYPE position.
The Block19 January 2026
On-chain data shows wallet 0xebe07e526c4dc5f0005801bbd7d9850c424cf719 linked to the project dumps approximately 194,273 HYPE tokens worth roughly $10 million within 24 hours. Founder 'Unwise' denies controlling the wallet; sales resume minutes after the denial.
BeInCrypto20 January 2026
TROVE token launches on Solana and crashes approximately 97% within hours, from a fully diluted valuation of roughly $20 million to under $500,000.
DL News20 January 2026
Team announces it is refunding $2.4 million and retaining $9.4 million of ICO funds to rebuild the DEX on Solana. Community members call for class-action lawsuit.
Crypto.news21 January 2026
Burwick Law publicly offers potential victims the opportunity to discuss compensation.
Protos21 January 2026
Crypto investigator Eyeonchains publishes report alleging Jin Qing Qing of Shanghai as the real actor behind Trove Markets, claiming 24 domains registered under the name and links to TAKER token and PoP Planet projects. Foresight Ventures publicly denies any affiliation with Trove Markets.
Protos21 January 2026
Hyperliquid Foundation donates 10,000 HYPE to ZachXBT to fund further investigation of the HYPE token dump.
BeInCryptoDecision Log
- hash: CCakTUnFYkCsEwSdNcZvJaJmoyrrncSKvgVoHHeh3SxC
This investigation is cryptographically anchored to the Solana blockchain (1 event). 18 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/19/2026, 5:11:00 PM
last updated: 7/28/2026, 4:01:59 PM
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