Thomas Braziel, a distressed-assets investor, has hired a crypto forensics firm to probe Cardano’s early finances, even as analyst Dan Gambardello warns about a deep lack of support for the Cardano community.

Braziel detailed the full scope of his investigation in a public statement on X. He wants clarity on Cardano’s original ICO Bitcoin addresses and the ultimate destination of those funds.

What the Cardano Forensic Probe Actually Targets

The probe also covers the formation and ownership history of Input Output Global, Emurgo, and the Cardano Foundation over the years.

Compensation, treasury management, and distributions to insiders also fall within scope. Braziel said Cardano investors deserve answers about how the…