The post Trove Accused After $11M Raise Ends in Token Crash appeared on BitcoinEthereumNews.com.

Investors push a class action after Trove’s $11M presale ends in a sudden token crash, Solana switch, and rug pull claims. Investors and crypto traders are now demanding a class action lawsuit against the creators of the Trove project. This comes after the recent launch of the Trove token, where the token price collapsed by over 10% in less than 15 minutes.  Investors are now accusing Trove core developers of running a rug pull, especially after the team abandoned its original blockchain plans just one week after finishing a massive presale.  Trove Token Crash and the Alleged Solana Rug Pull The main reason for the anger from the community comes from a sudden change in the project’s technical direction. Trove Markets originally built its identity and fundraising efforts around the Hyperliquid ecosystem.  The team initially asked for $2.5 million but ended up collecting over $11 million from excited contributors. However, on Monday, the developers announced they would move the entire product to Solana.  In other words, this sudden choice trapped many investors who expected a launch on the HyperEVM network. Massive rug pull in crypto — $TROVE just got exposed hard. Devs ran an ICO on Hyperliquid, smashed past their $2.5M target and raised over $11M. Then, without warning, they launched the token on Solana instead and kept all the funds — no refunds, nothing. Token went live and… https://t.co/tmeI4fHFc2 pic.twitter.com/MRi5t6RSQg — Hyperliquid Daily (@HYPERDailyTK) January 20, 2026 When the coin finally went live on Solana, the results were a disaster, according to complaints.  To start with, the fully diluted volume of the asset crashed from $20 million to $1 million in minutes. Traders who tracked the launch also say that this move prevented Hyperliquid investors from withdrawing their money before the price bottomed.  One user reported that their $20,000…

---

Filed under: News - @ January 20, 2026 12:28 pm