$ACX Token Drops 10% Amid DAO Manipulation Accusations Rocking Across Protocol

Across Protocol's native token, ACX, has taken a significant hit, sliding 10% following serious accusations of Decentralized Autonomous Organization (DAO) manipulation and insider trading.

Reports circulating on social media allege that core contributors to Across Protocol orchestrated secretive governance proposals to redirect substantial community funds – potentially around $23 million – to a for-profit entity associated with the team. These accusations suggest that the DAO's democratic process was circumvented through manipulated votes.

While the Across Protocol team, including co-founder Hart Lambur, has swiftly denied these claims, calling them "categorically untrue" and asserting that funds were used as intended for protocol development and hiring, the market has reacted sharply. The price drop was accompanied by a surge in trading volume, indicating strong market reaction to the controversy.

This incident highlights the ongoing challenges of governance and transparency in the DeFi space. The crypto community will be watching closely to see how Across Protocol addresses these serious allegations and whether they can restore confidence in their supposedly decentralized governance model.

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