Trove Markets token plunges over 95% after listing, sparking controversy
Show original
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
After Trove Markets completed its token generation event, its token TROVE on Solana plummeted by over 95% within just a few minutes of listing, with its fully diluted valuation dropping from around $20 million during the public sale to less than $1 million. The liquidity pool was quickly depleted, resulting in increased losses for early buyers. Previously, after raising $11.5 million, the project temporarily switched its deployment chain from Hyperliquid to Solana, sparking dissatisfaction within the community. The project team stated that they would retain approximately $9.4 million of the raised funds and only provide partial refunds, angering participants who demanded a full refund. Social media accused the project team of misappropriating funds and transferring money through mixers. On-chain investigator ZachXBT questioned a $45,000 SOL transaction related to a casino deposit. Trove denied the "exit scam" allegations, claiming that the funds remain and that they will continue to build.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!
You may also like
Biggest Weekly Alt Gainers and Losers Revealed as BTC Stalls at $63K: Weekend Watch
Cryptopotato•2026/08/16 05:24

Grupo Casas Bahia releases Q2 2026 results presentation
Reuters•2026/08/16 05:11
Grupo Casas Bahia board signs off on Q2 2026 interim financial statements
Reuters•2026/08/16 05:10
Crypto prices
MoreBitcoin
BTC
$63,000.81
-0.11%
Ethereum
ETH
$1,878.56
-0.19%
Tether USDt
USDT
$0.9989
-0.01%
USDC
USDC
$0.9999
-0.01%
XRP
XRP
$0.9992
-0.58%
Solana
SOL
$75.37
-0.12%
TRON
TRX
$0.3308
-0.48%
Hyperliquid
HYPE
$57.08
+1.61%
Dogecoin
DOGE
$0.06968
-0.78%
Zcash
ZEC
$487.08
-1.03%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now