Cardano’s development company, Input Output Global (IOG), has commissioned an audit to address and refute recent allegations claiming the illicit acquisition of $600 million worth of ADA tokens during the Cardano blockchain’s Allegra hard fork event in 2021.
IOG and Cardano founder Charles Hoskinson have categorically denied the accusations, stating that the vast majority of ADA tokens in question were governed by a pre-established seven-year grace period, contradicting theft claims.
The audit, expected to be completed by late August, aims to provide transparent, verified information regarding the token distribution process. This initiative is intended to reinforce Cardano’s credibility and address community concerns surrounding the allegations.
Market sentiment around Cardano (ADA) remains optimistic despite the controversy. Analysts suggest the platform’s fundamentals are strong, potentially driving further price stabilization and continued investor interest.
In response to the spread of what it terms defamatory misinformation, Cardano indicated it may pursue legal recourse against individuals deliberately propagating false claims to undermine investor confidence in the project.