Cross-Chain Bridge Project Accused of Financial Impropriety

The decentralized finance community is embroiled in controversy as Across Protocol founders face serious allegations of manipulating DAO governance to divert 【$23 million】 in tokens to their affiliated company. The claims, first surfaced by pseudonymous investigator Ogle, suggest founders may have compromised the project's decentralized principles for financial gain.

Governance Vote Irregularities Surface

Onchain analysis reveals two questionable proposals passed by the Across DAO. The first in 2023 secured 97% approval for token allocation, while a subsequent request for 50 million ACX tokens allegedly only reached quorum through coordinated voting by Risk Labs team members. ——This represents a fundamental breach of DAO governance principles——, Ogle stated in his exposé.

Financial records show the disputed tokens were worth approximately $22 million before ACX's 9.3% price drop following the allegations. The token currently trades around $0.1362, with market watchers closely monitoring the situation.

Nonprofit Status Under Scrutiny

Risk Labs founder Hart Lambur produced Cayman Islands incorporation documents to counter allegations, claiming the company operates as a nonprofit foundation. However, legal experts note such entities can serve various purposes, with Cointelegraph unable to verify Risk Labs' inclusion in official nonprofit registries.

Corporate filings show Risk Labs was re-registered as a "foundation company" in 2024. While these structures prohibit dividends, legal firm Ogier confirms they permit distributions to beneficiaries rather than shareholders—a distinction that remains central to the controversy.

Founder Defends Team Voting Practices

Lambur acknowledged team members participated in DAO votes but denied any wrongdoing. "My team is free to buy tokens and privately vote," he stated, emphasizing the transparency of wallet addresses used. The founder dismissed Ogle's claims as "categorically untrue" and questioned the investigator's motives, citing connections to competing projects.

The dispute highlights growing tensions in decentralized governance, with 【13.1 million】 tokens initially voting on the controversial proposals. As DAOs mature, this case may set important precedents for accountability in decentralized organizations.

Industry Watchers Await Resolution

The crypto community remains divided, with some viewing this as a test case for DAO transparency while others suspect competitive motivations behind the allegations. With neither party backing down, the situation continues evolving—as of press time, no formal legal action has been initiated regarding the disputed funds.