{"id":54998,"date":"2025-06-27T16:20:41","date_gmt":"2025-06-27T16:20:41","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/across-protocol-price-drops-11-amid-allegations-of-23m-acx-token-misappropriation\/"},"modified":"2025-06-27T16:20:41","modified_gmt":"2025-06-27T16:20:41","slug":"across-protocol-price-drops-11-amid-allegations-of-23m-acx-token-misappropriation","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/across-protocol-price-drops-11-amid-allegations-of-23m-acx-token-misappropriation\/","title":{"rendered":"Across Protocol price drops 11% amid allegations of $23M ACX token misappropriation"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/06\/across-protocol-price-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/06\/across-protocol-price-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/06\/across-protocol-price-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/06\/across-protocol-price-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Across Protocol price dropped 11% in 24 hours, testing critical support at $0.13.<\/li>\n<li>Declines come amid allegations that Across Protocol\u2019s team misappropriated $23 million in ACX tokens.<\/li>\n<li>The allegations are \u201clies\u201d, according to a response on X by an Across Protocol co-founder.<\/li>\n<\/ul>\n<p>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.<\/p>\n<p>Market data shows ACX price falling sharply to lows of $0.13. It coincides with allegations that the protocol\u2019s team manipulated governance proposals voting to benefit from approximately $23 million in ACX tokens.<\/p>\n<p>The claims have added significant downward pressure to Across Protocol\u2019s price, even as Bitcoin <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-holds-above-107k-ahead-of-major-quarterly-options-expiry\/\">holds above $107k<\/a> to bolster overall sentiment.<\/p>\n<p>Observers note that the claims could erode investor trust, including in other decentralized autonomous organizations (DAOs).<\/p>\n<h2>Across Protocol team allegedly misappropriated $23m ACX tokens<\/h2>\n<p data-start=\"0\" data-end=\"168\">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).<\/p>\n<p data-start=\"170\" data-end=\"241\" data-is-last-node=\"\" data-is-only-node=\"\">Ogle shared the accusations in a post on X early Friday, June 27, 2025.<\/p>\n<p>The main part of the accusation is that the Across Protocol team orchestrated a scheme to misappropriate $23 million in ACX tokens.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">TLDR: Across Protocol\/Bridge ($ACX) team used secret votes to extract ~$23m from the Across DAO\u2019s treasury for their own private company&#8217;s benefit.<\/p>\n<p>Background: I\u2019ve many times posted about DAOs that are DAOs \u201cin name only\u201d \u2013 that is, organizations that pretend to be run by \u201cthe\u2026<\/p>\n<p>\u2014 ogle | glue.net (@cryptogle) <a href=\"https:\/\/twitter.com\/cryptogle\/status\/1938381152022368518?ref_src=twsrc%5Etfw\">June 26, 2025<\/a><\/p>\n<\/blockquote>\n<h2>What happened?<\/h2>\n<p>According to the post, the team manipulated governance votes to transfer 150 million ACX tokens to Risk Labs through two separate proposals.<\/p>\n<p>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.<\/p>\n<p>However, Ogle claims Risk Labs began selling token option agreements to external investors shortly after.<\/p>\n<p>A second vote in October 2024 secured 50 million ACX tokens for \u201cretroactive funding.\u201d<\/p>\n<p>The vote allegedly passed due to votes from insider-controlled wallets. The vote would unlikely have passed without the insider manipulation.<\/p>\n<blockquote>\n<p>\u201cMore 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 \u201cunlocks,\u201d Ogle wrote.<\/p>\n<\/blockquote>\n<p>Notably, Hart Lambur, co-founder of Across Protocol dismissed the claims in a <a href=\"https:\/\/x.com\/hal2001\/status\/1938401604581069114\" target=\"_blank\" rel=\"noopener\">post on X<\/a>, responding to Ogle:<\/p>\n<blockquote>\n<p>\u201cThe allegations in here are\u00a0 categorically untrue and I will vigorously defend our protocol and our team.\u201d<\/p>\n<\/blockquote>\n<p>Lambur said his team will respond fully to Ogle\u2019s \u201clies.\u201d<\/p>\n<h2>ACX price drops amid market reaction<\/h2>\n<p>The ACX token was already facing some sell-off pressure having dropped from highs of $0.23 in late May.<\/p>\n<p>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%.<\/p>\n<p>Data from CoinMarketCap indicates that the Across Protocol price has declined by 14% over the past week.<\/p>\n<p>The declines, however, happen amid a broader crypto market that remains volatile. Geopolitical and macroeconomic uncertainties are the major concerns.<\/p>\n<div class=\"ad-banner  container  pt-1\" data-partner=\"bitcoinpepe\">\n        <a href=\"https:\/\/bitcoinpepe.co\/en?utm_source=coinjournal&amp;utm_medium=banner&amp;utm_campaign=header\" target=\"_blank\" rel=\"nofollow sponsored noopener\"><br \/>\n            <img src=\"https:\/\/coinjournal.net\/wp-content\/themes\/c1-base\/dist\/img\/ad\/blockovate\/en-4.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/across-protocol-price-drops-11-amid-allegations-of-23m-acx-token-misappropriation\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Across Protocol price dropped 11% in 24 hours, testing critical support at $0.13. Declines come amid allegations that Across Protocol\u2019s team misappropriated $23 million in ACX tokens. The allegations are \u201clies\u201d, according to a response on X by an Across Protocol [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":54999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/54998"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=54998"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/54998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/54999"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=54998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=54998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=54998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}