DWF Labs ousts partner amid allegations of misconduct

Cryptocurrency-focused venture capital firm DWF Labs has cut ties with a partner accused of inappropriate behavior during a company event in Hong Kong.

The company took action after a woman identified as “Hana” reported that a company associate allegedly tried to spike her drink on October 24.

the incident

In an official post on Oct. 29 to X, DWF Labs addressed the allegations, saying, “We are aware of recent and deeply troubling allegations involving one of our partners, who has been accused of inappropriate and unacceptable behavior.”

The company added that while the matter remains under investigation, “DWF Labs has decided to terminate the aforementioned partner from management and operations roles effective immediately.”

Hana, a venture capitalist, described the alleged incident in a thread on X. She explained that the accused couple initially approached her on the pretext of discussing a job opportunity, describing her as “perfect” for to a project

He explained that during the encounter he left his drink unattended while going to the bathroom. When she returned, she only took a few sips of the drink before the alleged assailant went outside to make a call. A waitress then came to warn her that someone had tampered with her drink in her absence.

The victim described feeling “extremely dizzy” when she went outside, where she claims the pair tried to lure her back to their hotel, allegedly promising “insider information” in return. Hana has since reported that she obtained CCTV footage from the bar and filed a complaint with the Hong Kong police.

DWF Labs Statement

In a formal statement, DWF Labs emphasized its commitment to a safe and respectful workplace:

“At DWF Labs, we have the utmost respect for all people and are unwavering in our commitment to creating a safe, respectful and inclusive environment for everyone.”

The company also noted that more than half of its workforce is made up of women, reflecting its commitment to gender diversity.

He further emphasized that he does not approve of any action that goes against his core values ​​of integrity, respect and responsibility, and reiterated that he stands firm in defending these values ​​within himself and in his associations. and industry-wide interactions.

The statement concluded with the firm’s solidarity with those affected by similar incidents and saying that it is still monitoring the situation. Meanwhile, neither DWF Labs nor the victim have publicly confirmed the couple’s identity.

According to CoinGecko, the VC firm has a crypto portfolio worth an estimated $48.7 billion at current rates, with investments in Tron (TRX), Toncoin (TON), and Artificial Superintelligence Alliance (FET), among others

It’s not the first time the company has been on the wrong end of a scandal. In September 2023, there were allegations that DWF was involved in market manipulation. However, the investment firm emphatically dismissed the charges, with managing partner Andrei Grachev pointing out that any reported anomalies were the result of market dynamics rather than manipulation.

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