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Cardano (ADA) Redemption Controversy Over? Hoskinson Shares IOG Audit Results
A third-party forensic review has cleared Cardano's voucher redemption program of wrongdoing. The review, conducted by McDermott Will & Schulte and BDO, found no basis for allegations of insider theft or misuse of ADA. Accusations included improper sales tactics and designing blockchain upgrades to hinder redemption. NFT artist Masato Alexander had previously claimed Charles Hoskinson manipulated the ledger to control unredeemed ADA. Hoskinson maintained that nearly all vouchers were redeemed by original buyers. The investigation found no evidence of IOG turning away valid voucher holders or engaging in deceptive marketing. The audit revealed that over 97% of vouchers were redeemed on-chain during the Byron era. Voucher certificates contained redemption codes, not private keys, debunking claims of key deletion. Cardano insiders were also found not to have misappropriated staking rewards from unredeemed ADA. Charles Hoskinson expressed frustration with the accusations and called for apologies from those who spread them. He hopes the community can now move past the controversy.
