- Hoskinson accuses Cointelegraph of defamation over $600M ADA voucher scandal.
- Independent audit clears IOG, but Cointelegraph refuses to retract story.
- Hoskinson urges crypto projects to boycott Cointelegraph over false reporting.
Charles Hoskinson, CEO of Input Output Global (IOG) and founder of Cardano, has taken a strong stance against Cointelegraph, accusing the popular crypto news outlet of “defamation at the highest level.” Hoskinson claims that Jon Rice, the editor-in-chief of Cointelegraph, has refused to retract a story that links IOG to the alleged theft of $600 million worth of ADA vouchers. He further alleges that Cointelegraph is preparing to release another article, suggesting that IOG is pressuring them to change their coverage. According to Hoskinson, demanding “basic journalistic integrity” should not be viewed as coercion.
Hoskinson’s anger was expressed in a post on X, where he encouraged other cryptocurrency projects to pull ads from Cointelegraph and to boycott its events. He believes that continuing to engage with the outlet would give legitimacy to its controversial reporting on the issue.
Also Read: $773,000 Stolen in Massive Hyperdrive Hack – What You Need to Know!
The ADA Voucher Scandal: What Really Happened?
The controversy began earlier this year when NFT artist Masato Alexander accused Charles Hoskinson of misusing his genesis key to manipulate the Cardano blockchain and steal $600 million worth of ADA tokens. Alexander referred to this alleged act as “one of the biggest reorgs in blockchain history.” Cointelegraph heavily covered the claims, amplifying the accusations and stoking further speculation.
However, an independent forensic audit conducted by the law firm McDermott Will & Emery and accounting firm BDO debunked these allegations. The audit revealed that 99.7% of the ADA vouchers were properly redeemed, and the unclaimed tokens were redirected to fund ecosystem grants through Interspect, a Cardano governance body. Despite the findings exonerating Hoskinson, Cointelegraph continued to focus on the controversial story, which has fueled Hoskinson’s call for accountability.
Hoskinson is now demanding that Cointelegraph address its role in spreading misinformation, as the facts have clearly disproven the initial allegations. He argues that the outlet’s refusal to retract its story, even after the audit, is a failure of journalistic responsibility.
Also Read: Plasma (XPL) Price Prediction 2025–2030: Will XPL Hit $24.00 Soon?
