Crypto trading firm DWF Labs has removed founding partner Eugene Ng from its team page following allegations of drink spiking in Hong Kong, which first surfaced on social media platform X.

DWF Labs acknowledged the allegations, stating “one of our partners” was dismissed from management and operational duties as they investigate, according to its statement on Tuesday.

OpenEden, another firm co-founded by Ng, suspended a team member due to the allegations, though the individual was not specifically named.

The incident was reported by an X user named Hana, who accused a partner at DWF Labs of spiking her drink on 24 October.

She claimed to have video evidence and reported the case to local authorities, subsequently sharing images of the report online.

Following the allegations, Ng privatized and later deleted his X account. He also removed his LinkedIn profile.

Ng’s professional history includes roles at Barclays and Deutsche Bank, along with a significant position at Gemini in Asia.

The Block has contacted Ng and DWF Labs for comments.