Bitcoin24h $78,249.56+0.70%

Ethereum24h $2,455.28+0.65%

BNB24h $692.93+0.35%

XRP24h $1.39+0.84%

Solana24h $105.65+1.32%

TRON24h $0.3410-0.15%

Hyperliquid24h $83.50+3.12%

Dogecoin24h $0.0852+0.02%

Zcash24h $839.75+4.88%

UNUS SED LEO24h $9.66+2.44%

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.