Analyses of the inelastic α+ 12 C scattering at medium energies have indicated that the strength of the Hoyle state (the isoscalar 0 + 2 excitation at 7.65 MeV in 12 C) seems to exhaust only 7 to 9% of the monopole energy weighted sum rule (EWSR), compared to about 15% of the EWSR extracted from inelastic electron scattering data. The full monopole transition strength predicted by realistic microscopic αcluster models of the Hoyle state can be shown to exhaust up to 22% of the EWSR. To explore the missing monopole strength in the inelastic α+ 12 C scattering, we have performed a fully microscopic folding model analysis of the inelastic α+ 12 C scattering at E lab = 104 to 240 MeV using the 3-α resonating group wave function of the Hoyle state obtained by Kamimura, and a complex density-dependent M3Y interaction newly parametrized based on the Brueckner Hartree Fock results for nuclear matter. Our folding model analysis has shown consistently that the missing monopole strength of the Hoyle state is not associated with the uncertainties in the analysis of the α+ 12 C scattering, but is most likely due to the short lifetime and weakly bound structure of this state which significantly enhances absorption in the exit α+ 12 C * (0 + 2 ) channel.Given a vital role in the stellar synthesis of Carbon, the isoscalar 0 + 2 state at 7.65 MeV in 12 C (known as the Hoyle state) has been studied over the years in numerous experiments. Although this state was clearly identified long ago in the inelastic α+ 12 C scattering at medium energies [1,2,3,4] and inelastic electron scattering [5] as an isoscalar E0 excitation, our knowledge about its ⋆ Research supported, in part, by Natural Science Council of Vietnam, EU Asia-Link Program CN/ASIA-LINK/008 (94791) and Vietnam Atomic Energy Commission (VAEC).