The ACX token, native to the Across Protocol, has sharply declined in price amid serious allegations of insider trading related to $23 million in decentralized autonomous organization (DAO) funds.
Allegations Against Across Protocol Team
The allegations were made public on June 27, 2025, by Ogle, the pseudonymous founder of the Glue project and advisor to World Liberty Financial. In a detailed post on X, Ogle accused the Across Protocol team, particularly project lead Kevin Chan and CEO Hart Lambur, of orchestrating two secretive proposals that directly benefited their own company using undisclosed wallets.
Details of Voting and Manipulations
These proposals, made to appear as having community support, transferred 150 million ACX tokens worth about $23 million at current prices to Risk Labs over two separate governance votes. The first vote in October 2023 granted 100 million ACX under the pretense of future development support, claiming that the tokens would not be sold for two years. However, shortly after, Risk Labs allegedly began selling token option agreements to external investors. A second vote for "retroactive funding" of 50 million ACX passed primarily due to insider-controlled wallets.
Technical Analysis of ACX Token
According to technical analysis, the token is currently hugging the lower Bollinger Band at $0.1308 and trading below its 20-day simple moving average. The relative strength index (RSI) at 31.27 is trending downwards, approaching oversold territory. If the price breaks through the $0.13 support zone, further declines may occur, exacerbated by deteriorating market sentiment and eroded trust in the team.
The market situation for the ACX token remains tense, particularly in light of the allegations of misappropriation of DAO funds. Investors should monitor the developments closely.
