The founders of Across Protocol, a cross-chain bridge platform, have come under fire over allegations of misusing $23 million in DAO funds to benefit their affiliated for-profit entity, Risk Labs. The controversy erupted following a detailed X (formerly Twitter) thread posted by on-chain investigator and Glue founder, Ogle, who accused the team of manipulating governance processes within the DAO to covertly funnel funds to Risk Labs.
Ogle claims that Across Protocol’s decentralised governance is merely symbolic, accusing the team of orchestrating internal votes to shift substantial token reserves under the guise of “retroactive funding.” He argued that the proposals passed only due to team members’ insider votes, which were not transparently disclosed to the DAO community.
Questionable Non-Profit Claims
Hart Lambur, founder of both Across Protocol and Risk Labs, has publicly denied the accusations. He asserted that Risk Labs is a Cayman Islands-based non-profit with fiduciary obligations and no shareholders. To support this claim, Lambur shared the company’s certificate of incorporation, describing it as a “foundation company.”
Risk Labs’ certificate of company re-registration. Source: Across Bridge Protocol
However, doubts have been raised about Risk Labs’ nonprofit status. Though it is officially registered, it does not appear in the Cayman Islands’ official list of registered non-profit organisations. Legal experts note that Cayman foundation companies can serve any purpose — charitable, commercial, or private — and while they cannot pay dividends, they may still distribute assets to designated beneficiaries.
Governance Vote Under Scrutiny
At the heart of the allegations are two major governance proposals. The first, passed two years ago, saw 13.1 million tokens in favour, securing over 97% approval. The second proposal, submitted a year later, requested 50 million ACX tokens from the DAO for retroactive compensation. This vote narrowly passed, but Ogle claims that without insider participation, it would have failed to meet the required quorum.
Ogle also revealed that a wallet responsible for nearly 14% of the total voting power was initially funded by Lambur himself. He argued that many of the participating wallets were secretly linked to Risk Labs team members, undermining the legitimacy of the vote.
Moreover, he pointed out the absence of formal agreements between Across and Risk Labs regarding the token allocation, raising further concerns about accountability.
Risk Labs Responds to Accusations
Lambur responded with a detailed rebuttal, calling the claims “categorically untrue.” He stated that team members bought tokens using personal funds and voted in their capacity as independent DAO participants. “My team is free to buy tokens and privately vote in proposals, just like every other DAO out there,” Lambur said.
He confirmed that team member Chan had voted for the proposal, but rejected allegations of secrecy, saying the addresses in question are publicly disclosed and traceable.
Across Protocol (ACX) token price. Source: CoinMarketCap
Lambur also questioned the motivations behind the exposé, highlighting Ogle’s anonymity and alleged ties to rival platforms LayerZero and Stargate. He pointed out that Bryan Pellegrino, founder of Stargate and LayerZero, quickly amplified Ogle’s post, implying a coordinated effort to damage Across’s reputation.
Community Awaits Further Clarity
As of now, Ogle has not issued further comments following Lambur’s rebuttal. The DAO community remains divided, with some calling for an independent audit or formal investigation. The situation has reignited debate around decentralised governance and the transparency of so-called DAOs that, critics argue, are often dominated by a few insiders.
The case highlights a growing need for clearer structures and accountability mechanisms in decentralised ecosystems, especially when significant financial stakes are involved.
