Charles Hoskinson stated that the unclaimed tokens from Cardano's ICO were moved into a custodial account, only after Attain’s bankruptcy left no party able to process late redemptions safely, and donated to Intersect, an organisation supporting Cardano’s governance and development

Quotes that support claims

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.

Hoskinson has rejected those claims as “lies,” insisting that 99.8 percent of the sale tokens were eventually redeemed by their rightful owners and that the remaining balance was moved—first into a custodial account and ultimately to Intersect—only after Attain’s bankruptcy left no party able to process late redemptions safely.

The founder of Cardano also specified that the tokens not claimed after this long period were donated to Intersect, an organization involved in the development and governance of the Cardano network.