Cardano founder Charles Hoskinson says the long-awaited audit of Input Output Global’s (IOG) ADA holdings is nearly ready for public release, aiming for mid-August if progress stays on track.
He’s asked for additional details in the initial draft but assured the community that the process is moving swiftly.
The audit was first announced in May following accusations that IOG misused $600 million in ADA. Hoskinson strongly rejected the claims, calling them baseless and saying the remaining unclaimed tokens were donated to Intersect after years of inactivity.
The controversy was fueled by allegations from a community member who claimed Hoskinson used a “genesis key” to alter the Cardano ledger and seize control of the funds during the Allegra hard fork in 2021.
Hoskinson denied any manipulation and said he plans to livestream the report’s release, accompanied by a dedicated website to host related documentation.
Meanwhile, legal action may be in the works. Hoskinson confirmed he’s meeting with a defamation law firm to explore possible responses to the public accusations.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/cardano-founder-denies-ada-misuse-plans-public-audit-reveal/