Market maker DWF Labs has temporarily suspended one of its partners from operational and managerial duties following an investigation into alleged misconduct.

We are aware of the recent and deeply concerning allegations involving one of our partners, who has been accused of inappropriate and unacceptable behaviour. While the matter is under investigation, DWF Labs has decided to dismiss the said partner from management and operational…
— DWF Labs (@DWFLabs) October 29, 2024

Incident Details

According to sources, a woman named Hana filed a police report following an incident on October 24 at a Hong Kong bar. Hana alleged that during a meeting with a DWF Labs representative to discuss work, the individual spiked her drink with an unknown substance while she was briefly away from the table. A waitress noticed the act but was unable to intervene before Hana consumed several sips and began to feel unwell.

I never thought I’d personally experience something like this. On the evening of October 24th, I was drugged by a partner at @DWFLabs at a bar in HK. I have reported this to the local police and have collected video evidence of him spiking my drink. pic.twitter.com/mCQpaxB6DH
— Hana小屁娜 (@hananotsorry) October 29, 2024

Hana claimed the man persistently invited her to his apartment. CCTV footage capturing the incident has been submitted to the police.

DWF Labs’ Response

DWF Labs issued a statement affirming its commitment to transparency and ethical conduct.

“Our team is built on transparency and adherence to the highest ethical standards. We do not condone actions that conflict with our core values of honesty, respect, and accountability,” the company stated.

Although no names were officially disclosed, community speculation points to Eugene Ng, co-founder of OpenEden, as the accused. Following the incident, Ng’s profile was removed from the company’s website, and his social media accounts were deactivated.