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 disclosed the entire incident, stating that the two met at a bar in Hong Kong on the 24th of this month, where Eugene Ng allegedly attempted to drug her. Following the incident, Eugene Ng has deactivated his Twitter and LinkedIn accounts.
Famous market maker founder’s intentions to commit sexual assault with highly skilled methods
Hana stated that Eugene Ng had previously asked her out multiple times, claiming he wanted to introduce her to job opportunities that matched her qualifications. As a newcomer to the industry, the victim readily accepted the guidance. However, the situation took an unexpected turn after their meeting on the 24th. Hana mentioned that she first went to the restroom, and after returning to drink her beverage, she stepped outside to take a call. This was when Eugene Ng seized the opportunity. Hana became aware of his intentions because a waiter discreetly informed her of Eugene Ng’s actions to drug her.
Hana switched to a different drink and tested Eugene Ng’s reaction upon his return. She initially expressed her dislike for the taste of the drink and requested a change. However, Eugene Ng unusually refused this suggestion. Subsequently, he pressured Hana to drink the beverage quickly, at which point Hana confirmed that Eugene Ng had ulterior motives.
When Hana felt dizzy at the bar entrance, Eugene Ng continued to insist that she didn’t need to work so hard, claiming that she could make money through the insider information he provided. Fortunately, Hana was not harmed, and afterward, she realized that even someone of his stature could engage in unsavory behavior behind the scenes. His methods were highly skilled, and he may have harassed many others in this way. Consequently, 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 one of the victims of harassment. According to her, such cases of sexual harassment seem to be not uncommon in this circle. Just yesterday, she was harassed by a startup founder who had received significant funding, which indirectly contradicts the notion that “the cryptocurrency space is the cleanest industry.”
DWF immediately terminated 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 positions of the aforementioned partner. They reiterated that the team would not tolerate behavior that undermines integrity, respect, and accountability.
Responsible person Andrei Grachev stated, “We never cross ethical boundaries; our philosophy is ‘people-oriented.’ Whether someone is an intern or a shareholder, crossing the line will immediately provoke a response.”
Binance-invested OpenEden responds: This person does not hold actual power
It is noteworthy that although Eugene Ng has deactivated 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 he seems to have also studied at the Hong Kong University of Science and Technology and Singapore Management University.
His work experience is even more extensive, having served as the Asia-Pacific Growth Director at Matrixport and Gemini. Currently, in addition to being widely recognized as a founder of DWF Labs, he is also the founder of OpenEden, a project focused on tokenizing government bonds, which has recently been invested in by Binance Labs (OpenEden is currently only open to professional investors).
This connection has raised questions about whether it would affect the project itself, but OpenEden quickly responded, indicating that they were aware of the circumstances and would take immediate action once the investigation concludes. The CEO, Jeremy, is the actual decision-maker, ensuring that their business remains unaffected. Interestingly, the Eugene Ng involved in this case shares the same name with a well-known trader, and he quickly clarified that he is not the individual involved in the crime.