Accusations of governance manipulation and insider trading have rocked Across Protocol’s ACX token on Friday after well-followed X users alleged that core contributors front-ran a Binance listing and still control the supposedly decentralized DAO.
However, the team swiftly denied any such claims.
Across Protocol’s token, ACX, is down 10% amid the drama. The allegations, whether substantiated or not, appear to have shaken trader confidence, with ACX seeing a spike in trading volume alongside the price drop, suggesting market participants are reacting swiftly.
Across co-founder Hart Lambur has called the accusations “categorically untrue” and denied all misdoings.
“Risk Labs was granted ACX tokens from the DAO to build the Across protocol,” he wrote in a Friday post. “This is standard practice for DAOs! Since the first grant passed (in October 2023), we shipped Across v3 and grew the protocol massively.”
“Since the second grant passed (in October 2024), we have built Across v4 with some incredible new technology (to be announced very, very soon), and we’ve hired brilliant new team members with these tokens (that vest over 4 years). We are using the ACX tokens exactly as intended,” Lambur added.