Hoskinson promises audit, is ‘deeply hurt’ by $600M Cardano treasury claims

Description

Charles Hoskinson has denied claims of misappropriating $600 million worth of ADA and announced that an audit report is forthcoming, following community allegations related to the 2021 Allegra hard fork and Cardano's treasury activity.

Authors

Zoltan Vardai

Publish date

May 19, 2025

Publisher

Cointelegraph

Web archive URL

https://archive.is/pR3R2

Web URL

https://cointelegraph.com/news/hoskinson-audit-deeply-hurt-600-m-cardano-treasury

Referenced by

Charles Hoskinson promises an audit after fund misuse allegations

Crypto news

News story

IOG never gave itself 350 million unclaimed ADA. This is a lie. The vast majority was claimed, and the remaining that was forfeited after seven years of waiting was donated to Intersect,” Hoskinson wrote in a May 6 X post.

Crypto news

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A secondary, “Move Instantneous Rewards” transaction dated Oct. 24, 2021, shows a transfer of over 318 million ADA tokens, which enabled the funds to flow from reserve pools into staking or treasury allocations.

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