Thursday, January 29, 2026

Pokémon cards and CS2 skins were supposed to be the product. Turns out, the investors were.

Trove Markets pitched a perpetual DEX for collectibles on Hyperliquid, leverage trading for the stuff in your childhood closet. $11.5 million flowed in during January's ICO.

Four days later, the team announced they were pivoting to Solana. Hours before the token went live. The 500,000 HYPE tokens required for Hyperliquid deployment? Already dumped, $10 million worth sold.

The pivot came with a confession dressed as strategy: $9.39 million would be retained "to keep building."

TROVE launched anyway. Twenty million dollar FDV. Fifty thousand dollars in liquidity. Ten minutes to a 95% collapse, while one entity quietly received 12% of the supply across 80 fresh wallets.

Then came the denial that broke itself. Founder "Unwise" publicly disavowed control of a wallet dumping HYPE tokens.

Minutes later, that same wallet resumed selling.

When your founder says "shut down the wallet" and the wallet keeps running, who's really holding the keys?

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We are all rekt.