The ACX token dropped by 10%, following accusations of a 23 million USD misappropriation. Allegations include manipulation of governance votes and unauthorized fund transfers to Risk Labs, raising significant concerns about financial management within the organization.
The Across Protocol team denied all allegations but the controversy has taken a toll on the token, as its value fell 11.63% on the day news broke, and it has since lost around 40.95% in the past month. Market reactions reflect a mistrust in the project’s governance.
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