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- Welcome Kevin_Lee to the Gate Square! 🎉
Looking forward to more great crypto insights from him.
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Across Protocol is involved in a DAO manipulation scandal, ACX falls 10%.
Gate News bot news, on Friday, the ACX token of Across Protocol was impacted due to accusations of governance manipulation and insider trading. Previously, some community members on X claimed that core contributors preemptively listed the coin on CEX and still control this supposedly decentralized DAO.
However, the team quickly denied any such allegations.
The token ACX of Across Protocol has dropped by 10% in this wave of turmoil. Regardless of whether these accusations are true, they seem to have shaken traders' confidence. The trading volume of ACX has surged while the price has fallen, indicating that market participants are reacting swiftly.
Across co-founder Hart Lambur called these accusations "absolutely false" and denied all wrongdoing.
In a blog post on Friday, he wrote: "Risk Labs obtained ACX tokens from the DAO to build the Across protocol. This is standard practice for the DAO! Since the first funding (October 2023), we have released Across v3 and significantly expanded the protocol."
Lambur added: "Since the second disbursement (October 2024), we have built Across v4 (to be announced soon) using some new technologies, and we have recruited excellent new team members with these tokens (vesting over 4 years). We are using the ACX tokens as expected."