According to Hoskinson there was no fraud, but a migration of non -spending and un claimed vouchers.
Ada’s price fell from $ 0.75 to $ 0.72 per currency.
In the community of Cardano (ADA) a heated debate about accusations aimed at his co -founder, Charles Hoskinson, is unleashed. Criticism, which indicate an alleged rewriting of the main book of the network to manipulate tokens flows, have generated a division between detractors and defenders.
On May 19, Hoskinson, leader of Input Output Global (IAG), one of the 3 companies behind Cardano’s development, denied The accusations and promised an audit to clarify the facts.
Additionally, the CEO of Cardano, who questioned The behavior of the media when exposing this conflict, also proposed a survey destined for ada’s holders in order to know the will to perform a collective claim to those who instilled him.
In coincidence with this problem in the community of Cardano, the Token de Ada registered a decline from 0.75 dollars today up to a minimum of 0.72 dollarshaving recovered at the time of this writing and quoting In the $ 0.73 per currency, according to Coinmarketcap:
Manipulation accusations in the biggest book
The origin of the controversy dates back to a thread Published on May 7, 2025 on the X platform by Alexander Masato, a non -fungible tokens artist (NFT) known in the cryptocurrency ecosystem.
According to Masato, in 2021, after hard bifurcation (Hard fork) “Allegra”, A technical Cardano procedure that created a new version of the network incompatible with the previous rewrite the main book of that network.
Those keys, which grant significant control over the network in their early stages, would have allowed moving 318 million ADA, equivalent to some 619 million dollars at that timefrom addresses associated with the initial offer of currencies (ICO) towards the reserves of the network, without the consent of the original owners.
This would have moved the Hoskinson funds, according to Masato
Masato argues that the Hoskinson maneuver would have been performed in two steps. First, Allegra Bifurcation included a technical function that eliminated unbasted transactions records (Utxos) of the initial offer of currencies, transferring the funds to the Cardano reserves.
Second, a transaction made on October 21, 2021 known as MIR (move instant rewards), designed to move funds from reserves for purposes such as Staking or the Treasury, there would be Redistributed these 318 million ADA. Masato added an extracted image of the cardosan block explorer with the alleged distribution of those tokens ada:
According to the complainant, Hoskinson said that most of these holdings were claimed by the original buyers of the ICO, but Masato questions The lack of transparent documentation What details the destiny of these tokens. In addition, he points out that the funds generated 25 million additional ada via Staking.
The artist also points to the lack of clarity around Intersectmbo, an organization aimed at promoting the development of Cardano. Although Hoskinson said that part of the funds was allocated to that entity, Massato cites statements from its interim director, who indicate that Intersect received Only 7 million dollarsa minimum fraction of the allegedly involved 619 million. These discrepancies, according to Masato, suggest that the whereabouts of most funds It still does not explain.
Masato’s statements resonated among some members of the Cardano community, who They expressed His concern about the apparent lack of transparency in a project that promotes decentralization.
Hoskinson’s position: there would be no evidence
In response to accusations, Charles Hoskinson He denied any irregularity in the management of Cardano funds.
In responses to Masato, affirmed that ada redemptions (process through which the original buyers of the initial offer of currencies exchanged their vouchers for tokens ada in the active network of Cardano) They remained open for three additional years After the transaction indicated by Masato, and that “the vast majority of those 350 million ADA were redeemed by the original buyers” in an effort that extended for seven years, sentenced HOSKINSON. «IAG was never awarded 350 million ada not claimed. This is a lie. The vast majority was claimed, and what remained, after seven years of waiting, was donated to Intersect, ”he wrote.
In another post of May 18, pointed out: “Not receiving the benefit of the doubt here without blunt evidence against means that I do not have the connection that I thought with some people”, advancing that, after the publication of the report, I could delegate its X account to a media team and modify the format of its public interactions.
The support of members of the Cardano community to Hoskinson
Several ecosystem actors have come out in defense of Hoskinson. On May 20, 2025, Cardanians, a representative delegate (DREP), a role that allows Ada Holders to delegate their vote for governance decisions, He issued A statement supporting the co -founder. «There is no evidence of irregularities by Charles or IAG. An audit is ongoing. In this campaign of attacks against Charles and Cardano, we are with him ».
Similarly, TapTools, a financial analysis platform for ADA, defended Hoskinson’s transparency: «The facts are clear: Charles did not control those funds. IAG did not touch the money of the vouchers. This is not a scandal, it is a discredit campaign ». For its part, Jerry Fraiskatos, exejecutive of the IAG company, assured That, during the ada redemption period, the team acted with integrity, implementing a rigorous process to locate the owners of unresated vouchers. «The questioning is valid, but accusing theft without evidence is not. The audit will speak for itself, ”he said.
Emurgo, one of the three founding entities of Cardano along with IAG and the Cardano Foundation, also back To Hushinson, highlighting that most vouchers were successfully claimed after an exhaustive process. Jane, participant of the cardan ecosystem, went further suggesting that accusations come from «Trolls»With hidden interests and that the three founding entities have corroborated the legitimacy of Hoskinson’s actions.
Although the available information does not allow the accusations to be confirmed, the audit promised by Hoskinson will be key to solving these doubts. Meanwhile, the community remains divided: on the one hand, those who see in the accusations an opportunity to demand greater transparency; on the other, those who believe that criticisms are an attempt to destabilize this project.
