Cardano Founder Responds to Allegations of $619 Million Fraud
Allegations of fraud have emerged against Cardano founder Charles Hoskinson, claiming that $619 million in ADA was illicitly moved. Key points include:
- An X user alleged that 318 million ADA was moved during the Allegra Hard Fork in 2021.
- The claims suggest Hoskinson deployed code that erased original ICO UTxOs, transferring funds to reserves controlled by him.
- The alleged transaction used MIR (Move Instantaneous Reward) to facilitate movement for treasury and staking rewards.
In response, Hoskinson stated:
- He refuted the claims, explaining that affected users' ADA became unspendable post-hard fork, leading to their transfer into a custodial account for future distribution.
- He threatened legal action against the accuser if the allegations continued.
- A full audit and report will be released to clarify the situation.
- Changes in his community engagement are planned, including delegating his social media account to a media company.
