Charles Hoskinson Faces 318M ADA Scandal – Will It Stop ADA’s Rise to $1?

The post Charles Hoskinson Faces 318M ADA Scandal – Will It Stop ADA’s Rise to $1? appeared first on Coinpedia Fintech News

Just when Cardano, the decentralized blockchain platform, was seeing its native token ADA rising by 4.3% in the last 24 hours, a new controversy has emerged. Claiming that founder Charles Hoskinson information

Charles Hoskinson

Charles Hoskinson is an American entrepreneur and blockchain visionary. He co-founded IOHK, and Cardano (ADA), a blockchain project. He also co-founded the Ethereum blockchain platform.
With the help of Cardano’s proof-of-stake (PoS) blockchain, Charles weighs on scalability, security, and interoperability to facilitate enterprise blockchain adoption. He directs research in Web3, cryptocurrency innovation, and decentralized governance through IOHK.
Quick Facts

Full Name

Charles Hoskinson

Birth

05-11-1987 in Hawaii, United States

Nationality

American

Education

University of Colorado Boulder, Metropolitan State University of Denver

Marital Status

Unmarried as of 2025

Net Worth

Estimated around $700 million

Charles Hoskinson’s work in cryptography, digital assets, and blockchain promotion has recognized him in the crypto. His efforts in developing blockchain have greatly contributed to the advancement of DeFi and blockchain networks globally.
Charles Hoskinson – Professional Career Timeline

2013 – Co-founded Ethereum (ETH), contributing to smart contracts and decentralized applications.
2014 – Left Ethereum over governance disputes and founded IOHK (Input Output Hong Kong).
2015 – Started developing Cardano (ADA), a third-generation blockchain with a proof-of-stake (PoS) model.
2017 – Launched Cardano mainnet, introducing scalable and secure blockchain solutions.
2019 – Led Cardano’s Shelley upgrade, enhancing network decentralization and staking rewards.
2021 – Rolled out Alonzo hard fork, enabling smart contracts and DeFi on Cardano.
2022 – Expanded Web3, governance, and blockchain adoption via Cardano’s Vasil hard fork.
2023 – Advocated financial inclusion and blockchain education in Africa and developing nations.
2024 – Advanced self-sovereign identity and on-chain governance with Cardano’s latest updates.
Present – Continues shaping blockchain innovation, DeFi, and decentralized ecosystems through IOHK.

He has collaborated with various tech experts and blockchain startups. Charles sees decentralized finance as a tool for financial freedom. He also educates crypto beginners through social media sites, conferences, and tech channels.
Useful Links to Connect With Charles Hoskinson

Platform

Link

X (formerly Twitter)

Charles Hoskinson (@IOHK_Charles) / X

LinkedIn profile

Charles Hoskinson – Self-employed | LinkedIn

Cardano Foundation

YouTube profile

https://www.youtube.com/c/charleshoskinson

Chief Executive Officer

moved 318 million worth of around $619 million without permission.

Despite the drama, ADA remains on track for a potential breakout, with indicators pointing to a price surge towards $1.

318M ADA Scandal? Hoskinson Responds

Cardano founder Charles Hoskinson has been in the limelight more for the last few weeks, starting from claiming that Ethereum might not survive the next 10-15 years, to defending Cardano against critics

But this time, Hoskinson is facing serious accusations of making unlawful move of ADA tokens. Crypto influencer Masato Alexander claims Hoskinson used special access to move 318 million unclaimed ADA, worth about $619 million, without permission.

Masato says the tokens were linked to a company called Attain Corp and were sold to investors in Japan, some of whom later felt tricked.

Hoskinson quickly denied all the claims, he said 99.8% of the tokens were claimed legally, and the rest were moved after a 7-year time limit, following the rules.

You keep lying to people. The Ada vouchers became unspendable after the hard fork. They were rolled into a custodial account controlled by the TGE that then continued redemption for 3 more years to distribute the genesis funds to the original buyers.

If you continue to imply…

— Charles Hoskinson (@IOHK_Charles) May 7, 2025

Many in the Cardano community have come to his defense, saying everything was done transparently and followed network rules.

Cardano Gears Up for Breakout – $1

Looking at the 1-day chart of Cardano, the price has been consolidating between the range of $0.66 to $0.72 for the last two weeks. Today, ADA jumped nearly 4.5% to around $0.707, breaking out of its recent downtrend.

If you take a closer look at the charts, it’s clear that ADA bounced back from a low of $0.60 and is now moving through key Fibonacci levels. In particular, ADA has broken through the 0.618 Fibonacci level at $0.6984 and is currently testing the 0.786 level at $0.7086, a bullish signal that suggests strength is building.