Crypto Scam? Trove Raises $11.5M, Then Drops Hyperliquid Plans for Solana Launch
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- Trove raised $11.5 million in an ICO while promoting a Hyperliquid-based launch roadmap.
- The project later announced it would abandon Hyperliquid and rebuild its DEX on Solana.
- Community members raised concerns over fund usage and on-chain activity after the shift.
Trove Markets, a crypto trading project that raised $11.5 million in an initial coin offering (ICO) last week, is facing heavy criticism after changing its launch plans shortly after the fundraiser.
The project had earlier told participants it would launch its $TROVE token and perpetuals exchange on Hyperliquid. Instead, Trove now says it will build and launch on Solana, reversing its earlier messaging.
What Trove Announced
In a statement, Trove said the change was triggered by a liquidity partner backing its Hyperliquid deployment. According to the team, that partner chose to unwind a 500,000 $HYP…
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