Bitcoin24h $65,445.60+0.94%

Ethereum24h $1,924.15+2.44%

BNB24h $574.34+0.85%

XRP24h $1.12+2.07%

Solana24h $78.25+2.01%

TRON24h $0.3258-0.11%

Hyperliquid24h $62.58+3.78%

Dogecoin24h $0.0726-0.08%

Zcash24h $549.87+2.58%

UNUS SED LEO24h $9.73+0.10%

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.