Charles Hoskinson Denies Allegations of Controlling 318 Million ADA Tokens Amid Cardano Hard Fork Controversy
The post Charles Hoskinson Denies Allegations of Controlling 318 Million ADA Tokens Amid Cardano Hard Fork Controversy appeared on BitcoinEthereumNews.com. Cardano’s founder, Charles Hoskinson, faces serious allegations regarding the mishandling of 318 million ADA tokens during the 2021 Allegra hard fork. He asserts that the unclaimed tokens were secured in a custodial account, and an impressive 99.8% of the ICO funds have been redeemed by legitimate token holders. In a bold move, Hoskinson warns of legal repercussions for those perpetuating what he labels as false narratives around Cardano’s ICO distribution. Cardano’s Hoskinson counters allegations of blockchain manipulation over 318 million ADA tokens, asserting high redemption rates for ICO funds. Cardano’s Hoskinson Accused of Secretly Altering Blockchain to Control ADA Funds Last week, NFT artist Masato Alexander asserted that the Cardano “Allegra” hard fork involved a deliberate overwriting of unspent token allocations from the original token sale, redirecting those assets to Cardano’s reserves. “In 2021, the Cardano ‘Allegra’ Hard Fork (HF) wasn’t just a routine upgrade. It contained an extra payload. This HF effectively ERASED the original ICO UTxOs holding the ₳318M and swept the funds into the Cardano reserves,” Alexander stated. Alexander’s claims extend to an assertion that although there were intentions to reissue the funds to their rightful owners, a substantial portion of the ADA tokens was allegedly withheld. Further allegations indicate that only a fraction of the tokens contributed to Intersect, a Cardano governance initiative, while most of the funds were staked, purportedly yielding an estimated 25 million ADA in additional rewards. “Only a tiny fraction went to Intersect… Where did the VAST majority of that ₳318 MILLION actually go after being moved from reserves? Separately, the funds were staked, earning 25m additional,” Alexander claimed. Additionally, Alexander critiqued the lack of documentation regarding the fund’s movement, hinting at a concerning absence of a verifiable audit trail. In an ironic twist, Hoskinson had recently emphasized the need for community…
The post Charles Hoskinson Denies Allegations of Controlling 318 Million ADA Tokens Amid Cardano Hard Fork Controversy appeared on BitcoinEthereumNews.com.
Cardano’s founder, Charles Hoskinson, faces serious allegations regarding the mishandling of 318 million ADA tokens during the 2021 Allegra hard fork. He asserts that the unclaimed tokens were secured in a custodial account, and an impressive 99.8% of the ICO funds have been redeemed by legitimate token holders. In a bold move, Hoskinson warns of legal repercussions for those perpetuating what he labels as false narratives around Cardano’s ICO distribution. Cardano’s Hoskinson counters allegations of blockchain manipulation over 318 million ADA tokens, asserting high redemption rates for ICO funds. Cardano’s Hoskinson Accused of Secretly Altering Blockchain to Control ADA Funds Last week, NFT artist Masato Alexander asserted that the Cardano “Allegra” hard fork involved a deliberate overwriting of unspent token allocations from the original token sale, redirecting those assets to Cardano’s reserves. “In 2021, the Cardano ‘Allegra’ Hard Fork (HF) wasn’t just a routine upgrade. It contained an extra payload. This HF effectively ERASED the original ICO UTxOs holding the ₳318M and swept the funds into the Cardano reserves,” Alexander stated. Alexander’s claims extend to an assertion that although there were intentions to reissue the funds to their rightful owners, a substantial portion of the ADA tokens was allegedly withheld. Further allegations indicate that only a fraction of the tokens contributed to Intersect, a Cardano governance initiative, while most of the funds were staked, purportedly yielding an estimated 25 million ADA in additional rewards. “Only a tiny fraction went to Intersect… Where did the VAST majority of that ₳318 MILLION actually go after being moved from reserves? Separately, the funds were staked, earning 25m additional,” Alexander claimed. Additionally, Alexander critiqued the lack of documentation regarding the fund’s movement, hinting at a concerning absence of a verifiable audit trail. In an ironic twist, Hoskinson had recently emphasized the need for community…
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