In a dramatic turn of events, Across Protocol has experienced a sharp decline in its native token’s value amid serious allegations against its team. The price drop comes on the heels of claims that insider manipulation has purportedly cost the organization millions. Investors are now left to grapple with the implications of these disturbing allegations.
Across Protocol Faces Allegations of Misappropriation
- The price of Across Protocol’s token, ACX, fell by 11% in 24 hours, testing a critical support level at $0.13.
- These declines occur amid allegations that the team has diverted $23 million worth of ACX tokens.
- According to a co-founder, the accusations are “lies.”
Across Protocol, an inter-chain intentions platform, reported a significant decline in its token ACX, plunging 11% over the past day due to alleged insider misconduct. Market data indicates that ACX hit a low of $0.13, coinciding with accusations that the protocol’s team improperly influenced governance proposals to extract approximately $23 million in ACX tokens from its treasury.
The fallout from these allegations has considerably pressured Across Protocol’s price, especially given that Bitcoin remains stable above $107,000, sustaining broader market sentiment. Analysts warn that such claims could undermine investor confidence, affecting decentralized autonomous organizations (DAOs) more broadly.
Details of Alleged Misconduct
Notable accusations against the team surfaced via a post by Ogle, a co-founder of Layer 1 inter-chain network Glue, and an advisor at World Liberty Financial (WLFI). On June 27, 2025, Ogle posted detailed assertions alleging that the Across Protocol team orchestrated a scheme to misappropriate $23 million worth of ACX tokens.
TLDR: Across Protocol/Bridge ($ACX) team used secret votes to extract ~$23m from the Across DAO’s treasury for their own private company’s benefit.
— ogle | glue.net (@cryptogle) June 26, 2025
Specifically, the accusations allege manipulation of governance votes to transfer 150 million ACX tokens to Risk Labs through two separate proposals. The first proposal, initiated in October 2023, aimed to allocate 100 million tokens under the pretense of supporting future development, with commitments that the tokens would remain unsold for two years. However, claims soon emerged that Risk Labs began selling token options to external investors shortly thereafter.
A second vote in October 2024 allowed for an additional 50 million tokens for “retroactive funding,” allegedly secured through votes from wallets controlled by insiders, raising questions about the integrity of the voting process.
“Directly, the extraction of these $ACX tokens harms current and future holders by draining not only the treasury but also creating significant future selling pressure during unlock events,” Ogle asserted.
Hart Lambur, co-founder of Across Protocol, denied the allegations in a post, asserting, “The accusations here are categorically false, and I will vigorously defend our protocol and our team.” He pledged to address the “lies” put forth by Ogle.
Market Reaction and Price Decline
Prior to these allegations, the ACX token was already under selling pressure, having declined from a high of $0.23 in late May. However, the recent allegations accelerated the downturn, causing a loss of 11% in just 24 hours, with total losses for the month reaching 41%. CoinMarketCap data indicates a 14% drop for Across Protocol over the last week.
This slump occurs within a broader volatile cryptocurrency market, where geopolitical and macroeconomic uncertainties remain pressing concerns for investors.
