DWF Labs Fires Eugene Ng Amid Drink Spiking Allegations

DWF Labs recently terminated one of its founding partners after being accused of inappropriate behavior.

The allegations, which surfaced on social media, claim that the partner attempted to spike a woman’s drink during a job-related meeting at a bar in Hong Kong.

The incident has attracted massive attention, leading to the immediate removal of Eugene Ng, a founding partner at DWF Labs, from his management and operational roles. The company did not explicitly confirm his identity.

DWF Labs Terminates Partner After Allegations of Drink Spiking in Hong Kong

In an official statement, DWF Labs expressed that they were “deeply concerned” by the accusations.

“We are aware of the recent and deeply concerning allegations involving one of our partners, who has been accused of inappropriate and unacceptable behavior,” the company said.

This decision was followed by removing Ng’s profile from the company’s team page, underscoring the seriousness with which DWF Labs is treating the incident.

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

The alleged events occurred on October 24 during a meeting between the accused partner and a woman known as Hana, who had connected with him for a professional discussion.

According to Hana’s account, while she was briefly away in the bathroom, staff members at the bar observed the partner putting something into her drink.

When she attempted to swap her drink upon returning, he reportedly obstructed her efforts, after which she chose to leave. Hana later reported feeling dizzy, adding to her suspicion that her drink had indeed been tampered with.

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

In a disturbing detail shared by Hana, she alleged the partner attempted to lure her to his accommodation, suggesting he would take her to a taxi and subtly proposing that she join him at a suite.

Hana shared on X (formerly Twitter) that he further implied she wouldn’t need a direct role in a cryptocurrency project.

Fallout for Ng: Social Profiles Vanish Amid Mounting Allegations in Drink-Spiking Case

In response to the incident, Hana sought assistance from local authorities, who reportedly provided CCTV footage of the alleged drink-spiking.

Hana stated she witnessed a level of confidence in the partner’s behavior that suggested it might not have been the first such incident.

She shared her experience and supporting evidence online, encouraging others to come forward.

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

Another X user, ‘Iris,’ claimed to have faced similar tactics from the same individual, describing his approach as “really aggressive.”

The fallout for Ng continued beyond DWF Labs. His X account was promptly switched to private and then deleted, and his LinkedIn profile was also taken offline.

Ng’s background in finance is extensive; before his role at DWF Labs, he held positions at Barclays, Citi, and Deutsche Bank, eventually establishing himself as a crypto industry advisor and founder of real-world asset firm OpenEden, with prior experience as the head of business development in Asia at Gemini.

DWF Labs is distancing itself from the incident as the investigation continues, and public interest and scrutiny surrounding the case remain high.