Trove Markets is under scrutiny after allegedly selling over $10 million in HYPE tokens within 24 hours, raising concerns of insider manipulation. The decentralized exchange, built on Hyperliquid's HIP-3 protocol, reportedly sold tokens from a wallet linked to the project, undermining community trust. Despite the founder's denial of control over the wallet, sales continued, prompting speculation of fraud or compromised access. The controversy follows Trove's ICO, which raised $11.9 million but faced criticism for last-minute changes and transparency issues. The Hyperliquid Foundation has engaged blockchain investigator ZachXBT to probe the token sales, donating 10,000 HYPE to support the investigation. Meanwhile, the HYPE token has dropped 60% below its ICO price, and Trove's mainnet launch is scheduled for February 2026, though trust issues persist.
Trove Markets Faces Allegations of $10 Million HYPE Token Dump
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