Cardano co-founder Charles Hoskinson says he is “waiting an apology” following the release of an audit of Cardano’s redemption process.
The audits involving accounting firm BDO and law firm McDermott Will & Emery uncover the latest “FUD” stories related to popular Altcoin, as they have not found evidence of fraud or misuse.
The heart of Cardano’s major controversy
In May, NFT artist Masato Alexander accused Hoskisson of manipulating the Cardano ledger with the help of the Genesis Key, seizing a total of 318 million unreleased ada tokens. The token was valued at approximately $600 million.
The Ada Tokens were originally sold as digital vouchers during pre-sale in Japan. Later, early buyers were able to redeem the token with the help of digital vouchers.
Cardano insider was accused of stealing or misusing the ADA, which should be assigned to the voucher owner. Furthermore, the blockchain upgrade has been said to have made it difficult to exchange vouchers.
However, Hoskinson vehemently denied the misuse of the token in question, claiming that 99.8% of the ADA vouchers have been redeemed. He called the terrible accusations harmful and deeply personal. The remaining 0.2% was redirected to the Ministry of Finance.
The founders of Cardano later published an independent audit aimed at reviewing the transactions.
Now, Hoskisson hopes people spreading the misinformation will apologise after it is proven by an audit.
What the audit found
Joel Telpner, Chief Legal Officer at Input Output, said the forensic audit found that the aforementioned charges had no real basis.
A total of 14,282 vouchers (99.2%) have been redeemed, representing 25,850 million ADA tokens. Furthermore, only 6.1% of buyers over the age of 65 disprove long-standing accusations of selling ADA to seniors. Furthermore, there was no intentional blocking of redemption.
