The founder of Cardano denied the allegations of misappropriating $600 million in ADA and promised to release an audit report.

robot
Abstract generation in progress

PANews May 19 news, according to Cointelegraph, Cardano founder Charles Hoskinson responded to community allegations regarding the misappropriation of approximately $600 million worth of ADA tokens, promising to release an audit report. The controversy centers on a transfer record of 318 million ADA (currently valued at about $229 million) during the 2021 Allegra hard fork, with NFT artist Masato Alexander accusing Hoskinson of using the genesis secret key to manipulate the ledger. In a tweet on May 6, Hoskinson clarified that the vast majority of ADA has been redeemed by the original purchasers, and the remaining portion has been donated to the Intersect organization. In his latest statement on May 18, he expressed feeling "deeply hurt" by the community's mistrust and mentioned that after the audit report is released, he may hand over the management of social media accounts to a professional team.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)