Is the Cryptocurrency Community the Cleanest Circle DWF Labs Cofounder Exposes Drugging Incidents in the Hong Kong Cryptocurrency Scene

Market maker DWF Labs is known for its unique style in the market, but recently its founding partner Eugene Ng has become embroiled in a criminal case. Twitter user @hananotsorry recently revealed the details of the incident, stating that the two met on the 24th of this month at a bar in Hong Kong, where Eugene Ng attempted an unsuccessful drugging. Following the incident, Eugene Ng has deactivated his Twitter and LinkedIn accounts.

Renowned market maker founder’s attempted drugging, method highly skilled

Hana indicated that Eugene Ng had previously invited her out multiple times, claiming he wanted to introduce her to job opportunities that met her criteria. As an industry newcomer, the victim was grateful for the guidance. However, after their meeting on the 24th, the situation did not unfold as expected. Hana reported that she went to the restroom first, and upon returning and drinking her beverage, she stepped outside to take a phone call. It was during this moment that Eugene Ng seized the opportunity; Hana only became aware of his intentions because a waiter discreetly informed her about Eugene Ng’s drugging behavior.

Hana switched her drink and tested Eugene Ng’s reaction after he returned. She expressed her dislike for the taste of the drink and requested a change, but Eugene Ng unusually refused. Subsequently, he pressured Hana to finish the drink quickly, confirming her suspicions about his ulterior motives. Hana felt dizzy at the bar’s entrance, while Eugene Ng emphasized that she did not need to work so hard and could rely on the insider information he provided to make money. Fortunately, Hana was not harmed, and she realized that even individuals with a reputable public image might engage in unsavory actions behind closed doors. His method was exceedingly skilled, potentially allowing him to have harassed numerous others. Therefore, Hana decided to report the incident to the police and quickly obtained surveillance footage of the crime.

Another female KOL, @Elizabethofyou, stated that she could guess who it was, as she was also a victim of harassment. According to her, such sexual harassment cases seem to be common in this circle. Just yesterday, she was harassed by a newly funded startup founder, which indirectly counters the claim that “the crypto space is the cleanest industry.”

DWF immediately fired Eugene Ng

Following the outbreak of the incident, market maker DWF Labs promptly issued a press release stating that during the investigation, DWF Labs had decided to immediately terminate the management and operational roles of the aforementioned partner. They reiterated that the team does not tolerate actions that violate integrity, respect, and accountability.

Leader Andrei Grachev stated: “We never cross moral boundaries; our philosophy is ‘people first.’ Regardless of whether someone is an intern or a shareholder, crossing the line will elicit an immediate response.”

Binance-invested OpenEden responds: the individual does not hold actual power

Notably, despite Eugene Ng’s deactivation of both his Twitter and LinkedIn accounts, his information can still be found on Rootdata. Eugene Ng graduated from New York University’s Stern School of Business and appears to have studied at the Hong Kong University of Science and Technology and Singapore Management University.

His work experience is even more extensive; he previously served as the Head of Business Growth for the Asia-Pacific region at Matrixport and Gemini. Currently, in addition to being widely known as the founder of DWF Labs, he is also the founder of OpenEden, a project for tokenized government bonds recently invested in by Binance Labs (OpenEden is currently only open to professional investors).

This relationship has raised questions about potential impacts on the project itself; however, OpenEden quickly responded, stating that they are aware of the situation and will take action once the investigation concludes, emphasizing that CEO Jeremy is the true decision-maker and that their business remains unaffected. Interestingly, the Eugene Ng involved in this case shares a name with a well-known trader, and he quickly clarified that he is not the individual involved in the crime.