Controversial market maker DWF Labs criticized for being unqualified to participate; responds to industry criticism: "Don't cry wolf."

During Token 2049, the "Web3 Connect" forum organized by C² Ventures unexpectedly sparked a heated debate among cryptocurrency market makers, with DWF Labs at the center of the controversy.

Background Information

• DWF accused of fake investments and market manipulation
• Multiple investments of tens of millions of dollars within half a year, DWF Labs facing scrutiny
• Market makers cutting profits! DWF Labs responds to accusations
• DWF Labs: We are not manipulating the market

DWF Gets Called Out: Not Qualified to Sit with Other Market Makers

Andrei Grachev, co-founder of DWF Labs, expressed his gratitude for the invitation to the "Web3 Connect" forum after the event.

However, a market maker account related to GSR took a jab at DWF Labs, stating that they are not qualified to sit with participants from the forum such as market makers GSR and Wintermute, as well as OKX. The account considered it an insult, saying:

It is very sad that at the end of 2023, bad actors like DWF Labs still manage to attract so much attention.

Another market maker, the CEO of Wintermute, liked the post. Interestingly, in the event photos shared by GSR, Andrei Grachev's presence was deliberately removed:

DWF Responds: Stop Crying, We're Eating Your Market

Andrei Grachev, co-founder of DWF Labs, responded to Wintermute, saying that it's amusing to see them starting to collaborate with their competitors, complaining like a child, and calling them bad actors.

Our market-making is excellent, effortlessly taking away your market share, but you are helpless. I will soon receive your resume.

What Do Market Makers Think of DWF Labs?

During an interview at Token 2049, several market makers also expressed complaints about DWF Labs.

• One market maker revealed during the conference that apart from harming ordinary retail investors, DWF Labs' "harvesting" activities have even caused harm to their own employees due to misinformation from the company.
• Another market maker shared more information, as a former partner of DWF Labs, their employees expressed extremely negative experiences with DWF Labs, categorizing them as one of the worst market makers.
• As a benchmark, another well-known market maker in the industry, "Wintermute," was classified as "neither good nor bad."