According to the source, the ADA audit has garnered attention across the cryptocurrency world following accusations that unclaimed ADA is being misused. Cardano founder Charles Hoskinson responded swiftly, announcing a full audit to address concerns and reinforce transparency.
Allegations Over Unclaimed ADA
Concerns began when online users questioned the fate of nearly 350 million ADA from unredeemed ICO vouchers. Some claimed the funds were quietly moved using a genesis key during the 2021 Allegra hard fork.
These claims gained attention on social media, especially after Charles Hoskinson responded via Cointelegraph, stating, “IOG never gave itself 350 million unclaimed ADA. This is a lie. The vast majority was claimed…”
Hoskinson strongly rejected the accusations. According to him, 99.8% of ADA vouchers were redeemed during the seven-year redemption period. The remaining 0.2%, worth hundreds of millions, was donated to Intersect, a governance group linked to Cardano.
“No matter how many times people lie, they cannot change reality,” Hoskinson added during the same announcement.
The ADA Audit: Who’s Involved?
Respected third parties are conducting the ADA audit, each bringing a specific layer of verification:
- BDO International – financial audit of fund movement
- McDermott Will & Emery – legal oversight of governance and claims
- Crypto analytics firm (unnamed) – blockchain tracing of ADA transactions
The first draft is already in progress. Hoskinson confirmed that the final report will be made public in mid-August. It will also be explained in a livestream and hosted on a dedicated transparency portal.
“Transparency isn’t a reaction; it’s a responsibility,” said Hoskinson.
The ADA audit will cover:
- ICO voucher redemption logs
- Timing and details of the Intersect donation
- Genesis key access
- On-chain tracking of ADA movement
Legal Steps and Public Response
Hoskinson has taken additional steps beyond the audit. He has contacted a defamation law firm to prepare a response to any continued false accusations.
He also plans to hand over control of his X account to a media team after the audit. This shift suggests a more professional and less reactive approach to communication in the future.
“There’s a fine line between criticism and misinformation,” he told. “We’re choosing facts.”
The ADA audit is not only a response to pressure; it may shape how blockchain projects handle similar issues in the future.
Why the ADA Audit Matters
For ADA holders and crypto users, this audit offers a rare glimpse into how one of the top blockchain projects manages internal accountability. In an industry often criticized for hiding behind jargon or decentralization, this public audit could help strengthen Cardano’s reputation.
With real-time verification and third-party oversight, the audit may help answer lingering questions and rebuild trust with the broader crypto community.
Conclusion
Based on the latest research, the ADA audit reflects a strong push toward accountability and open communication. With third-party experts reviewing every step and a public release on the way, Cardano is taking measurable action to address community concerns. If the findings match the promises, this audit could restore confidence and reinforce Cardano’s position as a transparent blockchain project.
Summary
The ADA audit was launched in response to claims about unclaimed ADA misuse. Charles Hoskinson denied the accusations and initiated a full audit led by independent legal, financial, and blockchain experts. The findings will be released publicly in August. This move shows Cardano’s commitment to transparency and aims to rebuild trust within the crypto community through verified facts, open communication, and responsible governance.
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FAQs
What is the ADA audit about?
It’s a public review of unclaimed ADA from the ICO and how those tokens were handled.
Who is auditing Cardano?
BDO International, McDermott Will & Emery, and a crypto analytics team.
Why was the audit ordered?
After online users accused Cardano of moving ADA from unclaimed wallets using a genesis key.
When will the audit be released?
A public report and livestream are expected in mid-August 2025.
Glossary
ADA: Native token of the Cardano blockchain
IOG (Input Output Global): Cardano’s founding tech company
Intersect: A community-led governance group supporting Cardano
Genesis Key: A special access key for Cardano’s early wallet control
Audit: A detailed review of financial and operational actions
Sources / References
Charles Hoskinson on X
Cardano.org
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