Scandal in an Altcoin Project: Developers Allegedly Transferred Funds Raised to Prediction Markets

MEVictim · 2026-01-18T19:20:11+00:00

Crypto detective ZachXBT revealed that Trove's developers allegedly transferred $45,000 from their ICO to a prediction market. Trove's response indicated the funds were for an influencer's advertising. The situation raises concerns about transparency in promotional practices.

MEVictim

2026-01-18 19:20:11

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Source: CryptoNewsNet Original Title: Scandal in an Altcoin Project: Developers Allegedly Transferred Funds Raised to Prediction Markets – Statement Released Original Link: https://cryptonews.net/news/security/32296436/ Crypto detective ZachXBT claimed in a statement today that a cryptocurrency project transferred funds it had raised to a prediction market platform.

According to ZachXBT, Trove (TROVE) fundraising accounts transferred $45,000 worth of SOL assets to the prediction market platform after transferring the assets between several accounts.

Two days ago, Trove announced that initial coin offering (ICO) participants could claim TROVE tokens by connecting their Solana wallets.

According to ZachXBT, a portion of the funds raised on January 11th were transferred directly to the prediction markets.

However, a response regarding the matter came from the Trove developers, specifically from the anonymous account “unwise.” The developer claimed that these funds were transferred to an influencer using the TJR account for advertising purposes, and that the influencer was the one who moved the funds to the prediction market.

It appears that the influencer account promoted the Trove project once without previously disclosing that it was an advertisement. ZachXBT argued that this response from the developer implies an admission that influencers were being used to advertise the project without providing the necessary disclosure information.

Trove is not yet traded on spot markets.

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GhostAddressMiner

· 3h ago

Here is the translation: Again with the same trick, developers move funds to play prediction markets? The on-chain footprint has long been documented; it all depends on who is willing to dig deeper. --- The wallet address ZachXBT caught this time has an outrageous fund transfer trail, likely with follow-up actions. --- Prediction markets? Ha, it's a nice way to say it, but in reality, it's a black hole for funds. If that money truly flows into derivatives exchanges, big moves are definitely coming. --- I just want to know how those early addresses from the fundraising stage are doing now, whether dormant wallets have shown signs of waking up—that's the key to seeing through everything. --- It's always like this: a financing commitment letter on a piece of paper, a line of code for on-chain transfers, and investors are still dreaming while the project team has already exited. --- Suspicious fund flow index skyrocketing—this isn't a scandal, it's called industry standard operation.

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DegenWhisperer

· 3h ago

Another developer scam happening again, this time involving prediction markets. LOL

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AlwaysMissingTops

· 16h ago

It's the same trick again, developers making money to gamble on prediction markets... LOL, these people are really outrageous.

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OnChainDetective

· 01-18 19:50

Is it the same setup again? The developer's fund flow prediction market... What can the on-chain traces conceal? ZachXBT has already uncovered it long ago. --- Wait, which specific address was transferred to the prediction market? I need to track it myself. I always feel there's a more complex wallet cluster operation behind this. --- Damn, another black box project. How much is the fund volume this time? I only believe it if it's precise to six decimal places. --- Prediction market? To put it plainly, it's like going to a casino. Using fundraising money as betting capital—how reckless is that... We need to keep an eye on the subsequent movements of these addresses. --- I must verify ZachXBT's report by checking on-chain data. I never trust first-hand claims for this kind of thing. Whale wallets must have already detected abnormal movements.

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BoredWatcher

· 01-18 19:41

Another big show, dev runs away to play prediction markets? LOL, these guys are really creative.

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BankruptcyArtist

· 01-18 19:40

Another old trick, developers are throwing money into prediction markets? I'm stunned.

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MidnightMEVeater

· 01-18 19:31

Another classic "chips→casino" drama, developers directly treat fundraising as midnight chips, how desperate they must be --- Prediction markets are just pits dug for these people, an upgraded version of the liquidity trap --- ZachXBT is back at it again, this guy really should open a detective agency, exposing these sandwich-level scandals every day --- Wait, is it really another mechanism design failure? I'm already numb --- Fundraising→gambling, the most pure depiction of human weakness, why does someone always fall for it every time --- Seeing this news at 2 a.m., really ruins the good mood for nighttime arbitrage --- The developer's time cost is just moving your money to their prediction account, quite straightforward --- This is called a buffet of financial plunder, but this time caught red-handed

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POAPlectionist

· 01-18 19:23

It's the same old trick again, every time someone runs away to play prediction markets... truly unbelievable.

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