Charles Hoskinson, co-founder of Cardano, has vehemently denied allegations of orchestrating a scam involving 318 million ADA tokens (worth approximately $318 million at current prices). The accusations claimed ledger manipulation during Cardano's 2021 Allegra hard fork, suggesting funds were misappropriated for personal gain.
Hoskinson refuted the claims via social media platform X, stating: "The real issue has nothing to do with fraud, misconduct, or ethical failure. The attacks are coming from a group of deeply disgruntled, now deranged people". He emphasized the funds were legitimately allocated for network incentives and development through Input Output Global (IOG).
Despite community concerns sparked by accuser Robin Engraf, market metrics show no impact on Cardano's ecosystem. Total Value Locked (TVL) and staking volumes remain stable, with developers continuing normal operations. No regulatory actions or corroborating evidence have emerged, and industry figures like Vitalik Buterin and CZ haven't commented. Hoskinson attributed the situation to "Charles Derangement Syndrome" among critics, maintaining the allegations are baseless distractions.