The discussion surrounding Across Protocol intensified following allegations of mismanagement involving $23 million in ACX tokens, leading to a price drop.
Allegations of Fund Mismanagement
Hart Lambur is facing allegations of mismanaging $23 million. Reports suggest that 150 million ACX tokens were transferred to Risk Labs, raising questions about the transparency of governance in DeFi.
Lambur's Response and Situation Analysis
Lambur denied the allegations, emphasizing his transparency efforts on social media. "We found out on Twitter like everyone else," he said, addressing the rumors regarding knowledge of the Binance listing and subsequent wallet activity.
Financial and Regulatory Implications
Following the allegations, the value of ACX token fell by 10%. The community is demanding audits and stricter governance measures, highlighting the need for robust governance structures in DeFi. Regulatory questions remain unclear, but these events are likely to attract more scrutiny from regulators.
The situation surrounding Across Protocol raises significant questions about transparency and trust in DeFi, indicating a need for stricter governance norms and potential regulatory review.
