Allegations Shake Across Protocol’s ACX Token
Friday was anything but quiet for Across Protocol. The project’s ACX token took a 10% hit after prominent voices on X accused core contributors of insider trading and manipulating governance. The claims, still unverified, suggest the team may have front-run a Binance listing and retained undue control over the DAO—supposedly a decentralized entity.
But the team isn’t staying quiet. Across co-founder Hart Lambur fired back, calling the accusations “categorically untrue.” In a post, he defended the project’s use of ACX tokens, insisting everything was above board.
Market Reaction and Denials
The drama didn’t just play out in tweets. ACX’s price drop came with a surge in trading volume, a clear sign traders were spooked. Whether the allegations hold water or not, the market reacted fast. That’s crypto for you—rumors can move prices as much as facts.
Lambur’s rebuttal was detailed, though. He explained that Risk Labs, the team behind Across, received ACX tokens through DAO grants—a common practice, he stressed. The first grant, approved in October 2023, funded Across v3 and protocol growth. The second, from October 2024, went into developing v4 and hiring new team members.
“These tokens vest over four years,” Lambur added. “We’re using them exactly as intended.”
Still, skepticism lingers. DAOs are meant to be decentralized, but critics often point out how easily core teams can influence decisions. This isn’t the first time a project’s faced these kinds of questions, and it won’t be the last.
What’s Next for ACX?
For now, the team’s focus seems to be damage control. Lambur hinted at “incredible new technology” coming soon, likely hoping to shift attention back to the protocol itself. But trust, once shaken, isn’t easily rebuilt.
Traders might shrug this off in a day or two, or the fallout could drag on. It depends on whether more evidence surfaces—or if the accusations fade into the noise of crypto Twitter.
One thing’s certain: in a space where transparency is preached but not always practiced, these kinds of disputes aren’t going away. Across Protocol isn’t the first project to face them, and it won’t be the last.
For now, all eyes are on how the team handles the backlash—and whether ACX can recover its losses.
