Bitcoin24h $64,465.52-9.55%

Ethereum24h $1,895.69-10.00%

BNB24h $618.17-11.04%

XRP24h $1.26-13.26%

Solana24h $76.41-15.74%

TRON24h $0.2698-4.18%

Dogecoin24h $0.0894-12.95%

Hyperliquid24h $35.05+4.54%

Bitcoin Cash24h $444.66-16.23%

Cardano24h $0.2462-13.44%

Trove Markets perpetrator is Chinese crypto scammer, report

Crypto sleuth Eyeonchains claims to have identified the “real actor” behind Trove Markets as the Shanghai-based Jin Qing Qing.

What happened with Trove Markets?

The collectible perp trading project Trove Markets launched its token yesterday, and it shed over 90% of its value in minutes.

A token unlock for Core Contributors increased the supply of Hyperliquid by 5.5% overnight, diluting all other investors.

Gauntlet’s Tarun Chitra claims “greedy” ADL led to excess Hyperliquid losses, and describes a new “risk-aware pro-rata” ADL algorithm.

This weekend’s social media train wreck was a degenerate trader posting AI images of a white whale while losing millions of dollars.