Cardano Founder Orders Full Audit Amid $600M ADA Misuse Allegations
Charles Hoskinson, founder of Cardano, has launched a full audit of Input Output Global (IOG) after allegations surfaced about the misuse of 318 million ADA, worth over $600 million.
Critics claim the tokens were moved without community consent post-2020 Shelley upgrade. Hoskinson denied wrongdoing but emphasized transparency by hiring top firms: BDO International, McDermott Will & Emery, and a blockchain analytics group.
The audit aims to restore trust and clarify how the funds were handled. Results are pending, but the message is clear: Cardano is serious about accountability and investor confidence.