DWF Labs, a notable crypto trading firm, dismissed partner Eugene Ng after drink spiking allegations emerged on social media.
Allegations Surface on Social Media
The allegations came to light when Hana, a venture capitalist exploring opportunities in the Web3 sector, claimed on X (formerly Twitter) that her drink was spiked multiple times during a meeting with Ng at a Hong Kong bar on October 24. She described how a waitress warned her that her drink had been tampered with. Hana asserts to have gathered CCTV footage of the incident and reported it to local authorities, sharing images of the police report and her detailed account of the alleged drugging.
DWF Labs Responds
Following Hana’s post, DWF Labs issued a statement confirming the dismissal of a partner due to 'deeply concerning allegations involving inappropriate and unacceptable behavior.' Although the firm did not initially identify the individual, Ng’s sudden removal from the firm’s team page and the private status of his X account implied his connection to the allegations. According to user reports, Ng has since deleted his X account entirely.
Industry Reactions and Implications
The allegations against Ng have sparked discussions across the sector regarding workplace safety and conduct, particularly within the predominantly male crypto sphere. DWF Labs’ swift response—publicly acknowledging the accusations and removing Ng from his position—elicited mixed reactions. The incident underscores the significance of maintaining a safe environment for all professionals, raising questions about corporate governance and ethical standards within crypto enterprises.
The investigation is ongoing, with further developments anticipated as authorities examine the evidence provided by Hana. The incident highlights the need for transparent, standardized responses to misconduct.
