Trove Markets is under scrutiny after allegedly refunding key opinion leaders (KOLs) following a dramatic 99% crash in its $TROVE token. On-chain data analysis by Bubblemaps revealed that wallets linked to the $TROVE deployer transferred approximately $100,000 in USDC and $350,000 in USDT to new wallet addresses shortly after the token's collapse. These funds reportedly matched compensation requests from KOLs in leaked Telegram chats.
The controversy arises as regular ICO participants, who helped Trove raise $11.5 million, faced significant losses. Initially, Trove aimed to develop on Hyperliquid but later pivoted to the Solana ecosystem. During the same period, over $250,000 in stablecoins were also transferred to wallets associated with other KOLs, raising questions about the fairness of the compensation process.
Trove Markets Allegedly Compensates KOLs After Token Crash, ICO Investors Suffer
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