Did Cardano Founder Steal $619 Million? Hopkinson Makes Shocking Revelation
Charles Hoskinson, founder of Cardano, faces allegations of fraud after claims surfaced that $619 million worth of ADA was illegally moved. An X user, Masato Alexander, accused Hoskinson of deploying code during the Allegra Hard Fork in 2021 to erase original ICO UTxOs and redirect funds to reserves he controls. The transaction allegedly utilized Move Instantaneous Reward (MIR) transactions for treasury and staking rewards. In response, Hoskinson denied the allegations, stating that the ADA vouchers became unspendable post-hard fork and were moved to a custodial account for redemption. He threatened legal action against Alexander for the claims. Hoskinson announced plans for a full audit and report to clarify the situation, indicating changes in his community engagement approach, including handing over his X account to a media company and altering the format of his public interactions.
