🚨 Charles Hoskinson Prepares August Audit Amid $600M ADA Allegations
Cardano’s co-founder Charles Hoskinson is gearing up to release a highly anticipated audit report by mid-August, aiming to address widespread controversy over alleged misconduct involving $600 million worth of ADA.
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🧨 The Controversy: What Happened?
Back in May 2025, false headlines began circulating online, accusing Input Output Global (IOG) — the company behind Cardano’s development — of misusing a genesis key to allocate 350 million ADA to itself during the 2021 Allegra hard fork.
These unverified claims quickly spread, prompting intense scrutiny from the crypto community.
> 🗨️ “I’m absolutely disgusted. These headlines are deeply damaging and will take months — if not years — to undo,” Hoskinson posted on May 20.
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📅 Mid-August Audit Incoming
Hoskinson responded by committing to a full audit of IOG’s ADA activity. As of July 20, he confirmed that the audit is progressing well and remains on track for release in mid-August.
🧾 Audit Highlights:
📺 Full report to be read live via livestream
🌐 A dedicated website will permanently host the report and historical records
⚖️ Legal consultations are underway with a defamation law firm
> 🗨️ “The audit will directly address claims that IOG secretly allocated unclaimed ADA. Most of the ADA mentioned had already been claimed or transferred to Intersect, a Cardano governance body,” Hoskinson explained.
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🧐 Community Reactions & Legal Fallout
Some Cardano community members have raised questions about who sets the audit parameters and are calling for additional transparency. Others see this audit as a critical turning point for Cardano’s credibility.
Meanwhile, Hoskinson is considering legal action against those who spread false claims.
> 🛡️ “Meeting with the defamation law firm next week to discuss strategy,” he stated.
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🔍 Why It Matters
With Cardano’s integrity under fire, this audit could serve as a make-or-break moment — either restoring trust in the project or deepening the divide within the ecosystem.
Mid-August could very well be the most important month in Cardano’s recent history.
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📸 Image Suggestions (for Binance Square):
1. Banner Image:
Charles Hoskinson with a blurred ADA logo and the word “AUDIT” stamped in red.
2. Infographic:
Timeline:
2021: Allegra Hard Fork
May 2025: Allegations go viral
July 2025: Audit confirmed
August 2025: Report expected$BTC
