- Charles Hoskinson denied complaints to manipulate the big book in 2021 and threatened with legal proceedings concerning the allegations of theft of funds.
- ADA gained 4.39% in the middle of the controversy, showing a break in the resistance zone of $ 0.80.
Charles Hoskinson, the co-founder of Cardano (ADA), again made the headlines with a public response on X (formerly Twitter).
This time, he approached a controversy of resurfacing alleging that he manipulated the big book of Cardano in 2021 to take control of 318 million ADA, worth around 619 million dollars at the time.
Hoskinson firmly denied the accusations and repelled what he described as a baseless disinformation.
Noticed on the same, he said,
“You continue to lie to people. Good ADAs have become unfounded after the hard fork. They were launched in an account controlled by the TGE which then continued the redemption for 3 years more to distribute the funds of Genesis to original buyers. ”
By giving a threat, he added,
“If you continue to involve that Io has stolen funds, I will continue you. This is my last warning. “
What is the controversy?
For the context, tThe controversy intensified after the user of X Masato Alexander published a detailed thread alleging that 318 million ADA, initially allocated during the ICO of Cardano, were redirected by a change in the protocol in 2021.
Alexander said that the developers have introduced the function ‘ReturnredeemaddrsToreves, ‘ which filtered UTXOS not reissued linked to the first participants in ICO, in particular elderly Japanese investors, transferring these funds to network reserves.
Critics argue that this has refused to hold access to their ADA without reimbursement or clear communication.
Critics allege that the developers have moved the funds through an instant award transaction (MIR), generally used to mark rewards or cash benefits, in a portfolio that would have been under centralized control.
Alexander responded by demanding complete disclosure and transparency concerning how ADA was used.
In fact, despite the threat of Hoskinon, Alexander continued to declare,
“Doubt seriously that Charles wants to go through the discovery. Already know where to look for half of its payroll that has been talking to me for years. ”
Not everyone shares the same boat
However, not everyone criticized the co-founder of Cardano.
Crypto analyst Jonathan Morgan defended it, stressing that the transaction did not imply a rewriting or reorganization of the big book.
He said the network had carried out a legitimate operation, approved by consensus, through upgrading the protocol. This process, he said, maintained transparency and aligns with the Cardano governance framework.
Morgan noted,
“The majority (300m ADA) was successfully returned to ICO buyers. An remaining smaller balance (~ 18–24m ADA) was openly reused in community development (Intersectmbo). ”
ADA Action Price
Meanwhile, when writing the editorial’s moment, Ada was negotiated at $ 0.7052, reflecting a gain of 4.39% compared to the previous 24 hours, according to CoinmarketCap.
This price movement, as well as the strengthening of technical indicators and the increase in the activity of whales, points out the possibility of a broader increased escape.
Consequently, if ADA decisively erases the resistance zone from $ 0.70 to $ 0.80, it could confirm a trend reversal and prepare the ground for a short -term rise in the short term.
