Across Protocol Team Accused of $23M Treasury Manipulation

Pseudonymous crypto investigator Ogle, founder of Layer 1 project Glue, has leveled serious allegations against the team behind Across Protocol. The claims suggest a coordinated effort to manipulate DAO governance votes, funneling nearly $23 million from the project's treasury to private company Risk Labs.

According to on-chain evidence presented by Ogle, key figures including project lead Kevin Chan and CEO Hart Lambur allegedly used undisclosed wallets to manufacture consensus for self-serving proposals. One 2023 vote transferred 100 million ACX tokens ($15 million at the time) to Risk Labs under questionable circumstances, with later discussions revealing potential contradictions to initial terms.

The allegations strike at the heart of decentralized governance principles, suggesting that while Across Protocol maintains the appearance of community-led decision making, critical treasury allocations may have been decided by insider-controlled wallets. A subsequent proposal for 50 million ACX ($7.5 million) reportedly followed similar patterns of voting manipulation.