Degens Are Already Creating Eugene Ng-Themed Memecoins on Pump.Fun
While we're still reeling in disgust at the allegations surrounding DWF Labs partner co-founder Eugene Ng, degens have been busy creating memecoins inspired by the alleged drink-spiker.
ICYMI, X user Hana accused Ng of spiking her drink during Hong Kong FinTech Week. Offering video footage of the alleged incident with Ng supposedly being the culprit on screen, Hana quickly won the support of the internet while Ng's reputation was dragged through the gutters.
DWF has dismissed Ng with DWF managing partner Andrei Grachev even considering legal action against Ng.
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
"When I’ve seen the CCTV video, I was shocked at how he could do such shit," Grachev tweeted. "It’s the worst that a man could do, and it should entail severe punishment, no mercy. We withdraw our funds and consider further legal actions against Eugene."
When I’ve seen the CCTV video, I was shocked at how he could do such shit. It’s the worst that a man could do, and it should entail severe punishment, no mercy
— Andrei Grachev (@ag_dwf) November 1, 2024
We withdraw our funds and consider further legal actions against Eugene https://t.co/jdWZCLc0Ne
But over in degen land, things have taken an even more pragmatic step: creating memecoins in the name of the alleged crypto villain. At the time of writing, there are sixteen memecoins on Pump.fun inspired by Ng.
Token projects include:
- Eugene Ng (ticker: Eugene)
- PREDATOR EUGENE NG (ticker: EUGENE)
- Spiked by Eugene NG (ticker: Spiked)
- Eugene Ng (ticker: $HARASS)
- Eugene Ng (Hana rapist) (ticker: Predator)
One project, Eugene Rapist Ng 畜生 (ticker: dwf_rapist), even has a dedicated X page for the project. In a pinned tweet, the project writes, "I'm a scumbag rapist, and this shall forever be immortalised."
I'm a scumbag rapist, and this shall forever be immortalised.https://t.co/xk8XFYnndN
— Eugene Rapist Ng🍹 (I'm spiking) (@dwf_rapist) October 30, 2024
Most of the projects have market caps of around 4.5K with most of their prices heavily in the red since experiencing brief pumps upon their inception.
Evidently these satirical coins are not expressing support for Ng but capitalizing on trends, no matter how controversial, will always be the degen mantra. It's also not clear what these projects intend to do with any raised funds but is it ever clear with degens?