$NEIRO Trove Markets — the crypto project now being called out as a multi-million-dollar scam or mismanaged launch:
🚨 What’s Going On With Trove Markets?
Trove Markets was a recently launched crypto project designed to build a decentralized perpetuals exchange (perp DEX) — initially on the Hyperliquid protocol — with a focus on trading collectibles and niche assets. However, the rollout has rapidly descended into controversy.
🔥 $11.5M Raise Followed by Sudden Strategy Shift
Trove raised over $11.5 million in a public token sale marketed around building on Hyperliquid.
Hours before the token was set to go live, the team announced an abrupt shift: ditching Hyperliquid and rebuilding on Solana instead.
Backers claim this undermined the original roadmap and value proposition of their investment.
💰 Major Allegations & Why People Are Calling It a Scam
⚠️ 1. Large Token Dump / Possible Insider Dumping
On-chain data suggests wallets linked to Trove may have sold ~$10 million worth of $HYPE tokens within 24 hours — far more than expected.
That amount of selling put downward pressure on the token price and raised serious questions about whether this was a planned extraction of value rather than operational activity.
🔎 Complicating matters, the project’s co-founder allegedly denied control over the wallet involved — yet sales continued, fueling suspicions of either insider fraud or compromised access.
⚠️ 2. “Bait-and-Switch” Launch Promises
Investors argue that Trove promised one thing — a Hyperliquid integration — but delivered another:
The project tied its fundraising and token pricing to a specific technical roadmap.
The late pivot to Solana without broader consent or amended terms looked to many like a bait-and-switch.
Social media has been flooded with refund demands, anger, and accusations of a scam.