#$619M Cardano treasury scandal explodes 🤑
Charles Hoskinson is being accused of rewriting the Cardano ledger during the 2021 Allegra hard fork to seize control of over $600 million worth of ADA.
🔍 Critics say he used his genesis keys to sweep unclaimed presale funds into the Cardano reserves, then quietly moved them using MIR transactions.
No vote. No warning. Just a protocol-level maneuver that funneled assets into wallets he and his team controlled 💰
Hoskinson denies any wrongdoing and says an audit is on the way. He claims most of the funds were eventually claimed or donated to Intersect.
But so far, there’s no transparent trail. And Intersect itself says it only received around $7 million — nowhere near the $600 million in question 🤔
People are asking: where did the rest go?