Cardano Audit Confirms No Basis for Voucher Program Accusations
Results from a third-party forensic review of the Cardano (ADA) voucher redemption program have been released, refuting allegations against Input Output Global (IOG). Cardano's founder, Charles Hoskinson, anticipates apologies from those who made the accusations.
Key Findings from the Review
- The investigation by McDermott Will & Schulte and BDO found no basis for the public allegations against IOG.
- Accusations included insider theft of ADA, improper sales tactics, and claims that blockchain upgrades hindered voucher redemption.
- The review confirmed that 97.3% of vouchers were redeemed on-chain during the Byron era.
- As of August 15, 2025, 99.2% of vouchers consisting of 99.7% of all ADA sold under the Voucher Program have been redeemed.
- The report clarified that voucher certificates contained redemption codes, not private keys, countering claims of key deletion.
Hoskinson expressed frustration over the accusations and called for accountability from those responsible, urging them to apologize and move on from the controversy.
