TechFlow reported on January 19 that Trove Markets abruptly announced the cancellation of its integration plan with Hyperliquid after raising over $11.5 million, opting instead to build a perpetual contracts trading platform based on Solana, sparking strong investor backlash and demands for refunds.
The Trove team explained that the decision was due to a liquidity partner withdrawing 500,000 HYPE tokens originally intended to support the planned Hyperliquid integration. Additionally, blockchain investigator ZachXBT discovered that funds of approximately $45,000 from addresses linked to Trove were transferred to casino deposit addresses, further intensifying concerns over the project's fund management. The TGE (Token Generation Event) for the TROVE token was originally scheduled for 16:00 UTC on January 19 but may be delayed due to the platform's strategic shift and refund processing.
