Cardano founder denies allegations of ADA misappropriation and plans to use legal means to fight back.

In a recent public opinion storm, Cardano founder Charles Hoskinson responded to allegations that he used the genesis key to transfer over $600 million worth of unclaimed ICO tokens.
Hoskinson stated that these accusations are highly personal and destructive. He criticized on social media the damage these accusations have done to his reputation and pointed out that this incident has reshaped his view of his relationship with the Cardano community.
Hoskinson stated that although he has been fighting on the front lines, these accusations, in the absence of solid evidence, may undermine the trust and connections between him and certain individuals, possibly not as strong as he imagined.
On May 7, Hoskinson responded to such accusations for the first time. He refuted by stating that investors redeemed 99.8% of the ADA vouchers, and the remaining 0.2% will be returned to the token issuer after the seven-year period according to the agreement rules, and donated to Intersect, a member organization of the Cardano ecosystem.
In addition, Hoskinson revealed that an external audit report will be released soon to clarify the details of the redemption history and crowdfunding process. He also plans to hand over the management of social media accounts to the media team after the audit results are announced, in order to reduce his direct involvement on social media.
He also stated that Input Output Global (IOG) may take legal action against those who continue to accuse him of transferring unclaimed ADA from the 2017 Cardano token generation event.
At the same time, the Cardano Foundation also issued a statement welcoming the third-party audit of IOG on May 19, and suggested that it include all MIR transactions, balances, and any returns generated during the fund management period.
Although most of the presale ADA vouchers have been redeemed, there are still a small number that have not been exchanged. At the same time, the Shelley hard fork will invalidate the unexchanged ADA tokens, so it is necessary to complete these token exchanges as soon as possible.
As events unfold, community members and investors will pay more attention to the audit results and the progress of legal actions in order to gain more comprehensive information.
This event also reminds the entire industry that while rapidly developing, it is necessary to continuously strengthen compliance and communication mechanisms to maintain the long-term healthy development of projects and the stability of the community.
#ADA