Trove Markets
Summary
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 entities · 10 linked investigationsTimeline(12 events)
2025-11-27
Trove Markets public beta launched, allowing users to take long or short positions on collectibles on Hyperliquid.
Whales Market blog2026-01-11
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 Block2026-01-11
Angel round funds of approximately $45,000 transferred to a cryptocurrency casino deposit address, documented by ZachXBT on-chain.
Protos2026-01-17
ZachXBT publicly posts on-chain analysis of the $45,000 casino transfer, asking the team to explain.
MEXC News2026-01-18
Hours before scheduled token launch, team announces abrupt pivot from Hyperliquid to Solana, citing unnamed liquidity partner unwinding their HYPE position.
The Block2026-01-19
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.
BeInCrypto2026-01-20
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 News2026-01-20
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.news2026-01-21
Burwick Law publicly offers potential victims the opportunity to discuss compensation.
Protos2026-01-21
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.
Protos2026-01-21
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 and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/19/2026, 5:11:00 PM
last updated: 6/19/2026, 5:11:09 PM
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