Changes to the Trove token sale rules resulted in a Polymarket trader losing over $73,000.
TL;DR
Trove's last-minute contract update extended a token sale, causing a market surge before reversal. A trader's $89,000 investment for a small profit turned into over $73,000 in losses due to the confusion.
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According to Odaily Odaily, citing monitoring by The Poly Nerd, Trove updated its contract five minutes before the token sale ended, extending the deposit deadline to January 20th. Subsequently, the Polymarket order book saw massive buy orders of 100,000 to 300,000 shares from project-related wallets. Trove first announced a five-day extension on the X platform, causing odds to surge in the high-stakes fundraising range, then posted that it was canceling the extension and maintaining the original plan, leaving many traders trapped. One trader invested $89,000 near the close, attempting to earn a $200 profit, and is now facing losses exceeding $73,000.