INSUBCONTINENT EXCLUSIVE:
The founders of the crosschain bridge Across Protocol have been accused of siphoning $23 million of funds to their own for-profit company.In
covertly manipulating decentralized autonomous organization (DAO) votes to fund their for-profit company, Risk Labs
claims in a separate post
He said that Risk Labs is a Cayman Islands-based nonprofit with no shareholders
Source: Across Bridge ProtocolStill, law firm Harneys explained in its Cayman Islands foundation company guide that such firms can have any
as its name is not included in the list of registered nonprofit organizations.Cayman Islands-based foundations are not permitted to pay
approved two years ago and saw 13.1 million worth of tokenholders voting in favor, approving the proposal with over 97% of the vote
The 150 million tokens involved would be worth over $22 million after ACX lost around 9.3% of its value in the last 24 hours to trade at
roughly $0.1362 at the time of writing.Across Protocol (ACX) token price
years and team members have acquired it with their own funds
multiple team members voted for the proposal
