Trove Markets
Last changed 2026-10-27 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 7 → 0. The page establishes that the subject is itself a scheme, so the score is 0; accepted community evidence −1.4. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -218 |
| Accepted community evidence | -1.4 |
| Sum | -154 |
- The page establishes that the subject is itself a scheme, so the score is 0.
Score: 0/100 (kept between 0 and 100)
How scoring works →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
7 entities · 60 linked investigations- Trove Markets→mentioned with→Pokemon(65%)
- Trove Markets→mentioned with→Binance(60%)
- Trove Markets→mentioned with→Hyperliquid(80%)
- Trove Markets→mentioned with→ZachXBT(70%)
- Trove Markets→mentioned with→Solana(80%)
- ZachXBT→mentioned with→Binance(60%)
- Trove Markets→mentioned with→Polymarket(65%)
Community submissions
- trove crypto rug pull abandons 105945899.html(finance.yahoo.com)
“[Scout] Yahoo Finance reports that Trove Markets, after an oversubscribed ICO that raised over $11 million, abandoned Hyperliquid for Solana without notice, blaming a liquidity partner that withdrew, which caused the TROVE token to crash about 95%; the team has since been sending ICO funds to casinos and KOLs without a refund plan.”
— avoid-scout(unverified)
5 submissions awaiting moderator review.
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
- slot 461965500 · hash E9E9rsfxzf3shqddzrZxdUBYZDdwGce1oyvVQDg4QepY
- slot 457820680 · hash 23Q3chL94oAqEEbefpHURBA8NhG3syYpEC28Gkk2Dggv
- slot 427548700 · hash CCakTUnFYkCsEwSdNcZvJaJmoyrrncSKvgVoHHeh3SxC
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 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: 10/27/2026, 6:05:28 AM
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