There are rumors that Cardano founder sold over 1.5 billion ADAs in 2021 So researchers traced the origin of Cardano ADA's creation address on the blockchain and found that IOG Input Output Global's creation UTxO (2463071701 ADA) exhibited two types of abnormal transfer patterns during the bull market in 2021: From February to March 2021, approximately 925 million ADA were transferred out in 33 centralized transactions; Secondly, from April to November of the same year, approximately 20.2 million ADA were transferred out every 28 days, totaling 9 transactions. The payee was a dedicated address that only appeared in 2021, and all funds were immediately transferred upon receipt without any retention. After independently backtracking for about 40 hops, both paths point to the same IOG genesis output, which matches the exact Lovelace level with the IOG public genesis document. It should be clarified that on the chain, only the transfer behavior can be proven, and it cannot be proven whether these ADAs have been sold or converted into fiat currency, nor can the address be associated with any named individual at the cryptographic level. The starting point of this investigation is a tweet from May 2025, which contains multiple allegations that cannot be verified on chain (including naming specific individuals and claiming that they sold ADA for debt repayment). The researchers have clearly stated in the report that these contents exceed the scope of proof of on chain data.