Across Protocol price drops 11% amid allegations of $23M ACX token misappropriation

• Across Protocol price dropped 11% in 24 hours, testing critical support at $0.13.
• Declines come amid allegations that Across Protocol’s team misappropriated $23 million in ACX tokens.
• The allegations are “lies”, according to a response on X by an Across Protocol co-founder.

The Across Protocol, a cross-chain intents platform, has seen its native token ACX plunge 11% in the past 24 hours amid an alleged insider misconduct.

Market data shows ACX price falling sharply to lows of $0.13. It coincides with allegations that the protocol’s team manipulated governance proposals voting to benefit from approximately $23 million in ACX tokens.

The claims have added significant downward pressure to Across Protocol’s price, even as Bitcoin holds above $107k to bolster overall sentiment.

Observers note that the claims could erode investor trust, including in other decentralized autonomous organizations (DAOs).

Across Protocol team allegedly misappropriated $23m ACX tokens

Allegations against the Across Protocol team emerged on X, raised by Ogle, co-founder of cross-chain Layer 1 Glue Network and advisor at World Liberty Financial (WLFI).

Ogle shared the accusations in a post on X early Friday, June 27, 2025.

The main part of the accusation is that the Across Protocol team orchestrated a scheme to misappropriate $23 million in 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.

Background: I’ve many times posted about DAOs that are DAOs “in name only” – that is, organizations that pretend to be run by “the…

— ogle | glue.net (@cryptogle) June 26, 2025

What happened?

According to the post, the team manipulated governance votes to transfer 150 million ACX tokens to Risk Labs through two separate proposals.

The first, in October 2023, allocated 100 million ACX tokens under the pretext of supporting future development, with assurances that the tokens would not be sold for two years.

However, Ogle claims Risk Labs began selling token option agreements to external investors shortly after.

A second vote in October 2024 secured 50 million ACX tokens for “retroactive funding.”

The vote allegedly passed due to votes from insider-controlled wallets. The vote would unlikely have passed without the insider manipulation.

“More directly, the extraction of these $ACX tokens directly harms the current and future holders by not only draining the treasury, but also creating significant future potential sell pressure during the “unlocks,” Ogle wrote.

Notably, Hart Lambur, co-founder of Across Protocol dismissed the claims in a post on X, responding to Ogle:

“The allegations in here are  categorically untrue and I will vigorously defend our protocol and our team.”

Lambur said his team will respond fully to Ogle’s “lies.”

ACX price drops amid market reaction

The ACX token was already facing some sell-off pressure having dropped from highs of $0.23 in late May.

But the reaction to the allegations has helped push ACX lower, with the token shedding 11% of its value in the past 24 hours to see its losses in the past month reach 41%.

Data from CoinMarketCap indicates that the Across Protocol price has declined by 14% over the past week.

The declines, however, happen amid a broader crypto market that remains volatile. Geopolitical and macroeconomic uncertainties are the major concerns.

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