Cardano founder Charles Hoskinson has confirmed that the highly anticipated audit report concerning allegations of ADA token manipulation is on track for a mid-August release. This development aims to address community concerns and bolster confidence in the Cardano ecosystem, following claims of unauthorized movement of significant ADA holdings during the 2021 Allegra hard fork.
Audit Report Nears Completion Amidst Allegations
Charles Hoskinson announced that the first draft of the audit report has been received and is progressing rapidly. He stated on X (formerly Twitter) that while he requested more detail and context in several areas, the report is "shaping up quickly" and is expected to meet its mid-August release target, provided there are no unforeseen delays.
Key Takeaways
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The Cardano audit report is slated for public release in mid-August 2025.
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The audit was initiated to investigate allegations of manipulation of ADA during the 2021 Allegra hard fork.
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Hoskinson plans to livestream a reading of the entire report upon its release.
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A dedicated website will host the report and historical documents related to the token sale.
Addressing Misappropriation Claims
The audit was prompted by allegations made in May 2025 by NFT artist Masato Alexander, who claimed that Hoskinson and Input Output Global (IOG) manipulated the Cardano ledger during the 2021 Allegra hard fork. Alexander alleged that a "genesis key" was used to transfer 318 million ADA, valued at approximately $600 million, from the reserve to other pools.
Hoskinson has vehemently denied these claims. He clarified that the vast majority of the ADA in question was redeemed by original buyers during a seven-year claim period. The remaining unclaimed tokens, he stated, were donated to Intersect, Cardano's governance organization, which was funded through the same Token Generation Event (TGE) as the Cardano Foundation.
Commitment to Transparency and Legal Action
Hoskinson's commitment to transparency is evident in his plan to make the report public via a dedicated website, which will also include historical documents from the original token sale. He intends to read the entire report during a livestream once it becomes available, with further updates expected in early August.
Furthermore, Hoskinson has indicated that he is exploring legal action against those behind the allegations. He mentioned meeting with a defamation law firm to discuss options and strategy, underscoring his resolve to protect the reputation of the Cardano ecosystem.
Sources
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Cardano founder Charles Hoskinson says audit report is on track for mid-August release, Crypto Briefing.
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Cardano Founder Charles Hoskinson Announces Audit Report On Schedule For August, AInvest.
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Charles Hoskinson Says IOG ADA Audit Set For August Release, Cointelegraph.
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Cardano Audit Report On Track For Mid-August Release, AInvest.
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Cardano Founder Announces Mid-August Release of ADA Audit Report, AInvest.
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