🤡 The Central Circus
@TroveMarkets - Devs Showing Signs of SCAM
🔷 Built on Hyperliquid but Launching Token on Solana?
- They started with a testnet on HyperEVM and successfully drew in the community for the ICO, but then the Trove devs made this super confusing move: constantly delaying refunds and deciding to launch the token on SOLANA instead.
- If that's not hilarious enough, check out how the devs are using the money raised from the ICO.
🔷 ZachXBT Exposes Dev Team Using ICO Funds to Deposit into Casino Sites - And the KOL Booking Scheme Comes Out
- After the announcement, ZachXBT asked the team why they were sending ICO money to casino platforms, and the team claimed it was probably
@_TJRTrades - a KOL who's into gambling.
- Notably, this account had previously posted a super obvious shill for buying
$TROVE.
=> So there's proof the team booked KOLs with huge amounts of cash.
- After checking the addresses, a bunch of KOLs got exposed, like
@waleswoosh - a KOL who's often at the top on Kaito, who got $8k to blatantly shill the TROVE ICO.
=> What's really messed up is that this KOL didn't even add an ad tag or warn users.
=> They're treating their followers like products to sell for profit.
- KOLs who put the TROVE logo in their names got up to $5k a month, plus the perk of buying
$TROVE at just 50% of the community price.
=> Taking ads isn't wrong, but if you don't disclose it, it's easy to overhype and cause the community to lose money. Especially investing in projects like TROVE.
🔷 The Game's Over -
$HYPE Getting Dumped
- The TROVE team bought 500k
$HYPE to build community trust and prove they'd use HIP-3 (which requires staking 500k
$HYPE).
- But right after the ICO sold out, the team started gradually selling off those
$HYPE tokens, raising suspicions that the project is a slow rug.
You can check it here:
hypurrscan.io/address/0xebe0…
🔷 Personal Experience - Lessons Learned
- When I see KOLs blatantly shilling an ICO deal like this, I usually stay away.
- Deals that are super easy to buy into and win often aren't worth it.
- Don't trust KOLs on X, especially anonymous accounts. They don't care if you lose money; they only care about how much your follow is worth to them.
Source:
@5phutcrypto_