Trove Markets, a decentralized trade platform, refunded choose influencers in stablecoins following the collapse of its native token, in line with blockchain analytics agency Bubblemaps.
BREAKING: @TroveMarkets quietly refunded KOLs whereas presale members misplaced the whole lot
Onchain proof and leaked chats 🧵 pic.twitter.com/GD7cYX8790
— Bubblemaps (@bubblemaps) February 12, 2026
The mission raised $11.5 million in an preliminary coin providing, initially marketed to launch on Hyperliquid. However shortly earlier than the token technology occasion, Trove introduced on X that it might as an alternative launch on Solana. Across the identical time, a third-party liquidity supplier offloaded $20 million value of HYPE tokens.
When the $TROVE token went dwell, it plummeted 99%, wiping out ICO investor capital.
Blockchain knowledge reviewed by Bubblemaps exhibits $100,000 in USDC and $350,000 in USDT had been despatched from wallets linked to the Trove deployer to newly funded wallets inside 24 hours of the crash. The agency linked the transactions to a leaked Telegram chat by which Trove’s founder mentioned compensating a key opinion chief who had demanded a refund.
Extra transfers totaling greater than $250,000 in stablecoins had been traced to wallets tied to different influencers in the identical interval.
