{"id":24983,"date":"2025-06-27T14:40:16","date_gmt":"2025-06-27T11:40:16","guid":{"rendered":"https:\/\/forklog.com\/en\/across-protocol-team-accused-of-withdrawing-23-million-from-dao-acx-token-falls-10\/"},"modified":"2025-06-27T14:40:16","modified_gmt":"2025-06-27T11:40:16","slug":"across-protocol-team-accused-of-withdrawing-23-million-from-dao-acx-token-falls-10","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/across-protocol-team-accused-of-withdrawing-23-million-from-dao-acx-token-falls-10\/","title":{"rendered":"Across Protocol Team Accused of Withdrawing $23 Million from DAO; ACX Token Falls 10%"},"content":{"rendered":"<p>The price of Across Protocol&#8217;s token (ACX) has dropped by more than 10% following accusations against the team of manipulating the DAO and engaging in insider trading prior to its listing on Binance.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">TLDR: Across Protocol\/Bridge ($ACX) team used secret votes to extract ~$23m from the Across DAO\u2019s treasury for their own private company&#8217;s benefit.<\/p>\n<p>Background: I\u2019ve many times posted about DAOs that are DAOs \u201cin name only\u201d \u2014 that is, organizations that pretend to be run by \u201cthe\u2026<\/p>\n<p>\u2014 ogle | glue.net (@cryptogle) <a href=\"https:\/\/twitter.com\/cryptogle\/status\/1938381152022368518?ref_src=twsrc%5Etfw\">June 26, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time of writing, the asset is trading at $0.13 (-10.1% over the day), according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/across-protocol\">CoinGecko<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"565\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/ACXUSD_2025-06-27_14-09-41-1024x565.png\" alt=\"ACXUSD_2025-06-27_14-09-41\" class=\"wp-image-261141\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/ACXUSD_2025-06-27_14-09-41-1024x565.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/ACXUSD_2025-06-27_14-09-41-300x165.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/ACXUSD_2025-06-27_14-09-41-768x424.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/ACXUSD_2025-06-27_14-09-41.png 1438w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily chart of ACX\/USD on Coinbase. Data: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=COINBASE%3AACXUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The founder of the Glue platform, under the pseudonym Ogle, claimed that the Across Protocol team withdrew ACX tokens worth approximately $23 million from the treasury. According to him, the funds were directed to their &#8220;private commercial company,&#8221; Risk Labs. The team allegedly used controlled wallets to vote for &#8220;favorable&#8221; proposals without disclosing their interest.<\/p>\n<p>Risk Labs CEO Hart Lambur denied the allegations.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I am the founder of Across. The allegations in here are categorically untrue and I will vigorously defend our protocol and our team.<\/p>\n<p>In no way has the Across team &#8220;extracted&#8221; value from the DAO. That is so insane it&#8217;s hard to even respond to. <\/p>\n<p>I&#8217;ve been building in this space\u2026<\/p>\n<p>\u2014 Hart Lambur (\u26fa\ufe0f,\u26fa\ufe0f) (@hal2001) <a href=\"https:\/\/twitter.com\/hal2001\/status\/1938401604581069114?ref_src=twsrc%5Etfw\">June 27, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He stated that Risk Labs is a non-profit organization registered in the Cayman Islands, not a private company. According to Lambur, the grants were used for protocol development and team expansion, not personal enrichment.<\/p>\n<p>Risk Labs CEO <a href=\"https:\/\/x.com\/hal2001\/status\/1938479750185730231\">added<\/a> that employees voted with personal wallets, which were not concealed. He also noted that one of the contentious proposals was unanimously approved, with no objections during the seven-day voting window.<\/p>\n<p>Later, LayerZero founder Bryan Pellegrino suggested that Lambur might have engaged in insider trading.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">So\u2026 someone just sent me this. Is buying your own token ahead of upcoming listing legal? <\/p>\n<p>Doesn&#8217;t look great. <a href=\"https:\/\/t.co\/480ANNt77v\">pic.twitter.com\/480ANNt77v<\/a><\/p>\n<p>\u2014 Bryan Pellegrino (\u81ed\u4f01\u9e45) (@PrimordialAA) <a href=\"https:\/\/twitter.com\/PrimordialAA\/status\/1938448778442510580?ref_src=twsrc%5Etfw\">June 27, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In his view, the CEO of Risk Labs purchased ACX shortly before its unexpected listing on Binance in December 2024.<\/p>\n<p>Lambur <a href=\"https:\/\/x.com\/hal2001\/status\/1938457531598483609\">called<\/a> this &#8220;disgusting behavior from a competitor.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We had no idea Binance would list ACX. We found out from Twitter, like everyone else. The exchange can confirm this,&#8221; <\/em><a href=\"https:\/\/x.com\/hal2001\/status\/1938452776444694815\"><em>he stated<\/em><\/a><em>.<\/em><\/p>\n<\/blockquote>\n<p>Lambur confirmed that he purchased tokens from a public wallet to support the project and still holds them. The CEO of Risk Labs said the team communicated with Binance in early 2024, but contacts ceased several months before the listing. He accused Pellegrino of slander due to competition.<\/p>\n<p>Back in May 2024, teams from Uniswap Labs and Across Protocol <a href=\"https:\/\/forklog.com\/en\/news\/uniswap-labs-and-across-protocol-propose-ethereum-standard-for-interoperability\">proposed<\/a> a new industry standard, ERC-7683.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Across Protocol&#8217;s token (ACX) has dropped by more than 10% following accusations against the team of manipulating the DAO and engaging in insider trading prior to its listing on Binance. TLDR: Across Protocol\/Bridge ($ACX) team used secret votes to extract ~$23m from the Across DAO\u2019s treasury for their own private company&#8217;s benefit. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1464,80,596],"class_list":["post-24983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-accusations","tag-dao","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"138","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24983"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24982"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}