The founders of the Crosschain bridge Across Protocol are facing serious allegations regarding their project. Claims include potential misappropriation of DAO funds.
Accusations Against Across Protocol Founders
The founders of Across Protocol have been accused of covertly manipulating votes in the decentralized autonomous organization (DAO) to fund their for-profit company, Risk Labs. These allegations were made by an anonymous founder of the Glue project, who claimed that Across Protocol is a 'DAO in name only.' According to him, the project’s co-founders orchestrated proposals that undermined the 'democratic' process of the DAO, extracting approximately $23 million from the treasury.
Nonprofit Status in Question
Hart Lambur, the founder, denied the claims, stating that Risk Labs is a Cayman Islands-based nonprofit and shared its incorporation certificate. However, its name is missing from the list of registered nonprofit organizations, raising questions about its status. Meanwhile, the law firm Harneys explained that such organizations can undertake a range of activities, including commercial ones.
Responses and Denials
Lambur also asserted that the tokens have been live for nearly three years, and team members acquired them with their own funds. He refuted the accusations of identity concealment of voting addresses, stating they are publicly disclosed. In response to Ogle's allegations, he noted potential conflicts of interest due to Ogle’s connections with competing projects. Lambur emphasized that all voting processes were conducted transparently and legally.
Accusations against the founders of Across Protocol raise significant questions about transparency and DAO governance. While Lambur labels these claims as false, further investigations may clarify the situation.
