The ACX token of Across Protocol experienced a 10% drop due to allegations of misappropriation related to DAO funds.
Allegations Against Across Protocol
The ACX token plummeted 10% on June 27, 2025, amid allegations of misappropriating $23 million. CEO Hart Lambur firmly denies these claims, highlighting compliance with governance. He stated:
"Risk Labs was granted ACX tokens from the DAO to build the Across protocol. This is standard practice for DAOs!... We are using the ACX tokens exactly as intended." — CITE_W_A
Market Reaction to ACX Token Drop
Reports of alleged misappropriations triggered a notable decline in the ACX token price. This drop indicates eroded confidence among traders and underscores market fragility. Current trends show that market participants fear similar situations could occur in the future.
Potential Consequences for Token Management
The allegations may lead to heightened regulatory scrutiny and demands for improved transparency in token management. Historically, similar governance disputes have resulted in temporary market disruptions but also stricter safeguards. Amid ongoing uncertainty, ACX may face fluctuating staking and liquidity dynamics.
The situation surrounding the ACX token highlights the importance of governance and transparency in decentralized financial systems, which may have a lasting impact on the market.
