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DWF Labs, a prominent crypto trading firm, announced the dismissal of a partner following allegations of drink spiking that surfaced on social media. The partner in question, Eugene Ng, a founding member of the firm, has since been removed from the company’s official team page. This move follows accusations made by a woman, identified as Hana, who alleged that Ng drugged her drink during a professional meetup in Hong Kong.
Allegations Surface on Social Media
The allegations came to light when Hana, a venture capitalist exploring opportunities in the Web3 sector, posted on X (formerly Twitter) that her drink had been tampered with multiple times during a meeting with Ng at a Hong Kong bar on October 24. She recounted a waitress warning her about her drink being spiked with an unknown substance. Hana claims to have collected CCTV footage of the incident and reported it to the local authorities, sharing photos of the police report and her account of the alleged drugging.
“I never thought I’d personally experience something like this,” Hana wrote, expressing shock and concern over the incident. Her post included timestamps and additional details that garnered significant attention and support from the online community, including several figures in the crypto and venture capital spaces.
DWF Labs Responds, Dismisses Ng from All Roles
Following Hana’s post, DWF Labs issued a statement confirming the dismissal of a partner in light of “deeply concerning allegations involving inappropriate and unacceptable behavior.” Although the company did not initially name the individual, Ng’s sudden removal from the firm’s team page and the private status of his X account suggested his connection to the allegations. Ng has since deleted his X account entirely, according to user reports.
In the statement, DWF Labs stated that while it investigates the allegations, it had made the decision to remove Ng from his management and operational roles “effective immediately.” The firm emphasized its commitment to ensuring a safe and respectful environment, noting the seriousness with which it treats such accusations.
Industry Reactions and Implications for Crypto Firms
The allegations against Ng have prompted discussions across the industry regarding workplace safety and conduct, especially within the often male-dominated crypto sector. DWF Labs’ swift response—publicly acknowledging the accusations and removing Ng from his role—has drawn a mix of reactions, with some applauding the firm’s immediate action while others call for greater accountability measures across the industry.
As the case unfolds, it highlights ongoing concerns about the treatment of women in professional settings within the crypto and Web3 industries. With law enforcement now involved, the incident has placed additional scrutiny on corporate governance and ethical standards within crypto firms, sparking calls for clear policies on professional conduct and safety protocols.
Next Steps
The investigation is ongoing, and further developments are anticipated as authorities review the evidence provided by Hana, including CCTV footage. DWF Labs has yet to release any further details but emphasized that it will continue to cooperate with authorities.
In a fast-evolving industry, the incident underscores the importance of maintaining a safe environment for all professionals. As more traditional sectors migrate to Web3, crypto firms may face heightened expectations around workplace conduct and ethical governance, with stakeholders advocating for transparent, standardized responses to misconduct.