Cardano (ADA) Founder Responds to Allegations of Stealing $600 Million Worth of ADA

Cardano (ADA) founder Charles Hoskinson has categorically denied allegations that $600 million worth of ADA (approximately $318 million ADA) was misappropriated. Hoskinson announced that he will publish a comprehensive audit report regarding the transfer made during the 2021 Allegra hard fork that was at the center of the controversy. NFT artist Masato Alexander claimed that Hoskinson unilaterally used “genesis” keys to manipulate the Cardano ledger in 2021 and took control of 318 million ADA. Alexander compared the incident to Ethereum’s DAO hack in 2016, saying, “The Ethereum community did a hard fork for a $60 million hack; here, there is a $619 million intervention.” Responding to the allegations, Hoskinson said, “Input Output Global never allocated 350 million ADAs. This is a complete lie.” He stated that the majority of the ADAs in question were claimed by the original recipients over a seven-year period, while the rest was donated to an organization called Intersect. Related News: Why Did the Rally in Ethereum Stop? Expert Analyst Predicts the Future of Bitcoin and ETH in the Coming Days Hoskinson made the following statement in his statement: “No matter how many times people lie, the truth remains the same. The vast majority of those 350 million ADAs were reclaimed by their original owners within seven years. The rest were donated to Intersect after the legal deadline.” Hoskinson stated that the events deeply affected him and that he was disappointed that some people in the Cardano community did not trust him: “In a crisis, you quickly learn who your real friends are and who your just ‘good-weather friends’ are. The fact that some people treated me this way without providing any proof showed me that the bond between us was not as strong as I thought. This really upset me.” Hoskinson also announced that he plans to hand over his social media accounts to a media team and change the format of his regular AMA (Ask Me Anything) posts and X (formerly Twitter) interactions following the release of the audit report. Charles Hoskinson concluded his remarks by stating that he will still be present at events and will not give up on one-on-one contact with the community. *This is not investment advice. Continue Reading: Cardano (ADA) Founder Responds to Allegations of Stealing $600 Million Worth of ADA