#Charles Hoskinson Denies Rewriting Cardano Ledger to Hijack $619M

Cardano founder Charles Hoskinson denies claims of rewriting Cardano’s ledger to control ₳318M ADA, citing protocol-authorized fund moves.

Highlights

Hoskinson denies rewriting Cardano ledger, says ₳318M moved to custodial account for redemptions.

Critics allege a 2021 MIR transaction swept unclaimed ICO ADA into reserves using genesis keys.

Only $7M reached Intersect in 2024, despite Hoskinson citing ₳350M allocated from reserves.

Cardano founder Charles Hoskinson has denied allegations that he rewrote the Cardano ledger in 2021 to take control of ₳318 million (approximately $619 million at the time). This claim, shared widely on X by Masato Alexander, suggests the funds were originally allocated during the Cardano ICO (Initial Coin Offering) and later moved using the project’s genesis keys.