Cardano Drops 2.523% Amid Controversy Over Ethereum Address Activity

Cardano's latest price was $0.7425, down 2.523% in the last 24 hours. The cryptocurrency has been in the spotlight recently due to a series of events that have sparked controversy and debate within its community. The controversy began with a series of posts on X on May 17, 2025, where Cardano founder Charles Hoskinson responded to recent on-chain activity and internal criticism. The focus of the controversy is an Ethereum address holding 45,000 tokens, which interacted with the Orbiter Finance voucher program. A well-known Cardano advocate, @cardano_whale, described this move as part of an orchestrated attempt to damage Cardano. Hoskinson echoed this sentiment, stating that the whale had been summoned and that both he and the whale were at their limit of tolerance for the situation.

Hoskinson further alleged that the attack was being led by someone with malicious intent toward the Cardano ecosystem. He questioned the silence of the Cardano Foundation, suggesting they were aware of the voucher activity from the beginning. Hoskinson wrote that the Cardano Foundation had intimate knowledge of the voucher sale and were regularly briefed on efforts, yet had remained silent. The Cardano Foundation has not issued a public response to these allegations. This lack of response has only fueled the speculation and criticism within the community, with many members calling for transparency and accountability from the foundation.

Internal criticism within the Cardano community has also emerged. Andreas Pletscher, a former executive linked to the Cardano Foundation, responded critically to Hoskinson’s post. Pletscher accused Hoskinson of shifting responsibility and suggested that he should solve the issue himself or collaborate with Frederik Gregaard, the CEO of the Cardano Foundation. Hoskinson replied by stating that the Cardano Foundation had been called and that he would include all relevant logs, meeting notes, and their KYC report in the audit report. This exchange highlights the growing tension and mistrust within the Cardano community, as members grapple with the implications of the alleged attack and the foundation's perceived inaction.

The disagreement stems from growing scrutiny of the Orbiter Finance voucher system and its link to Cardano. Critics argue that voucher redemptions may have been misrepresented or poorly managed. Supporters, however, claim that the campaign has turned into an external attack aimed at discrediting the blockchain’s reputation. The controversy has sparked a heated debate within the community, with some members calling for a thorough investigation into the allegations and others defending the integrity of the voucher system. The intensity of the online exchange signals ongoing tension both within and outside the Cardano community, as members and stakeholders grapple with the implications of the alleged attack and the foundation's perceived inaction.