Trove Markets secretly refunded KOLs after the price of its cryptocurrency plummeted, causing significant losses for ICO participants.

PANews reported on February 13th that Bubblemaps disclosed on the X platform that Trove Markets had quietly refunded KOLs who participated in the pre-sale, while other pre-sale participants suffered significant losses. Monitoring wallets associated with TROVE token deployers revealed that within a day of the token crash, $100,000 worth of USDC and $350,000 worth of USDT were transferred to newly invested wallets. On-chain evidence and leaked chat logs now prove that the project team engaged in discriminatory treatment of investors.

After raising $11.5 million through an ICO in January, Trove stated it would retain $9,397,403 to continue building PerpDEX on Solana. This move sparked strong dissatisfaction within the community, causing its token price to plummet by over 95%, resulting in significant losses for ICO participants who blamed the team, Rug. Community feedback indicated that the project had issues such as "paying KOLs for promotion and having funds flow to entertainment platform deposit addresses."