The Cardano Foundation is preparing to release an audit report on its Treasury possessions after fresh accusations emerged and claimed abuse of approx. $ 600 million worth of ada -tokens.
Cardano founder Charles Hoskinson faces renewed control by members of the community, including non-spoken token artist Masato Alexander, who claimed Hoskinson manipulated the Cardano headbook using a “Genesis key to rewrite it and take control” of $ 619 million worth of carano (ADA) under the Network’s
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A secondary “Move Instantneous Rewards” transaction dated October 24, 2021 shows a transfer of over 318 million ADA -Tokens, enabling the funds to flow from reserve pools to stacking or state -box allocations.
However, ADA redemptions remained open for another three years after the transaction, Hoskinson replied, adding that “the vast majority of the 350 million ADA was redeemed by the original buyers,” a process that took a total of seven years.
“I and never gave up 350 million uncleared ada. This is a lie. The vast majority were claimed and the remaining ones who were lost after seven years of waiting were donated to cross each other,” Hoskinson wrote in a 6th May X post.
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Hoskinson “deeply wounded” by community reaction
Hoskinson confirmed that an audit report related to the hard fork is underway, but added that he “deeply injured” of society’s distrust after the claims.
“Not to benefit from the doubt here without strong evidence of the opposite means that I do not have the connection I thought with some people,” Hoskinson wrote in an 18th May X post and added:
“After the audit report comes out, I will probably transfer my X account to a media team and change the format of my AMAs and X -Rum.”
Hoskinson, who was also one of the co-founders of Ethereum, is among the leading figures in blockchain development.
Hoskinson, who spoke on Paris Blockchain Week 2025, emphasized the need for collaborative economics in the crypto industry to address growing competition from traditional tech companies entering the blockchain space due to growing legislative clarity.
https://www.youtube.com/watch?v=Hvoqj4xs88s
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