Across Protocol Token Plummets Amid $23M Misappropriation Allegations
The native token of Across Protocol, ACX, has seen a sharp decline following serious allegations of insider misconduct involving $23 million in DAO funds.
As of now, ACX is trading at $0.1342, marking a 10% drop in the past 24 hours and a decline of over 40% over the past month. The token is currently down 91% from its all-time high of $1.69, reached in December 2024.
The allegations surfaced on June 27, when Ogle, a pseudonymous founder of Layer 1 project Glue and advisor to World Liberty Financial, published a detailed exposé on X (formerly Twitter). In the post, Ogle accused the Across Protocol leadership—specifically project lead Kevin Chan and CEO Hart Lambur—of pushing through two covert proposals that allegedly funneled funds to their own company via undisclosed wallets.
