Cardano founder denies allegations of embezzlement of $600 million, promises to release audit report
2025-05-19 14:09:59
Charles Hoskinson, founder of Cardano, has responded to community allegations of misappropriation of ADA tokens worth around $600 million by promising to release an audit report. The controversy centers on a transfer of 318 million ADA (currently around $229 million) during the 2021 Allegra hard fork, with NFT artist Masato Alexander accusing Hoskinson of tampering with the ledger using the creation key. In a May 6 tweet, Hoskinson clarified that the vast majority of ADA has been redeemed by the original purchaser and the remainder has been donated to the Intersect organization. In his latest statement on May 18, he said he was "deeply hurt" by the distrust of the community, saying that after the audit report is published, his social media accounts may be handed over to a professional team for management.
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