Summary of the Investigative Report - Public allegations are baseless: The report concludes that all major accusations (that insiders stole ADA, improper sales tactics, voucher deletion/key loss during upgrades, or the illegality of transferring ADA to CDH) are unsupported by evidence. - Most vouchers were properly redeemed: Over 99% of the vouchers issued—representing 99.7% of the ADA—were successfully redeemed through on-chain and off-chain processes. - Sales and marketing oversight: Safeguards were in place during the initial sales to prevent deceptive marketing, and many distributors who violated the rules were suspended or terminated. - Not an exploitation of the elderly: Only about 6% of participants were over 65, and refunds were offered to them. - Redemption code clarification: Vouchers provided “redemption codes,” not private keys; the confusion came from mistranslations. - Use of unredeemed ADA: A portion of the remaining ADA was transferred to a trust (CDH) and used to support Intersect and the broader ecosystem, with transparent accounting and documented procedures. In conclusion, there is no evidence of fraud or misconduct by Input Output or related entities in handling the voucher program and unredeemed ADA the process was carried out transparently.