Cardano founder denies allegations of embezzling $600 million from ADA and promises to release audit report According to Cointelegraph, Cardano founder Charles Hoskinson responded to community allegations of misappropriation of approximately $600 million worth of ADA tokens and promised to release an audit report. The focus of controversy revolves around a transfer record of 318 million ADA (currently worth approximately $229 million) during the Allegra hard fork in 2021, with NFT artist Masato Alexander accusing Hoskinson of tampering with the ledger using a genesis key. Hoskinson clarified in a tweet on May 6th that the vast majority of ADAs have been redeemed by the original buyers, and the remaining portion has been donated to the Intersect organization. On May 18th, he stated in his latest statement that he felt "deeply hurt" by the lack of trust in the community and that he may transfer his social media account to a professional team for management after the audit report is released.