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Across Protocol team accused of manipulating $23 million in treasury funds
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btccSquare News:
Crypto investigator Ogle (founder of LAYER 1 project Glue) has raised serious allegations against the Across Protocol team, claiming they colluded to manipulate DAO governance voting and transferred nearly $23 million in project funds to a private company, Risk Labs.
According to on-chain evidence provided by Ogle, project leader Kevin Chan and CEO Hart Lambur allegedly used undisclosed wallets to manufacture consensus and pass self-serving proposals. In one vote in 2023, 100 million ACX tokens (worth $15 million at the time) were transferred to Risk Labs under suspicious circumstances, with subsequent discussions revealing that the transaction might have violated initial terms.
These allegations strike at the core of decentralized governance, exposing that while Across Protocol maintains the appearance of community decision-making, critical fund allocation may actually be controlled by internal wallet holders. A subsequent proposal for 50 million ACX ($7.5 million) reportedly showed similar voting manipulation patterns.
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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