Curve Finance row over $9.3m Resupply exploit ends in Singapore court

A months-long feud within the Chinese-speaking crypto community has moved from Telegram chats and Crypto Twitter to the courts. A Singapore judge has now ordered two individuals to stop “harassing” Curve Finance contributor Haowi Wong.

In an industry that typically airs its grievances online rather than in front of a judge, it’s a rare case of a crypto dispute reaching the courts.

Singapore’s Protection from Harassment Court has ordered crypto wallet OneKey’s founder Wang Lei, who is better known as Yishi, and the pseudonymous user behind the X account @web3feng to stop making threatening or abusive statements about Haowi Wong, according to documents seen by DL News.

“This situation is no longer about technical discussions or differences in opinion. It involved sustained personal attacks, serious allegations such as fraud, and even threatening behavior. At that point, it crosses out of ‘DeFi discourse’ and becomes real-world harm,” Wong told DL News.

The two respondents didn’t appear in court, and they didn’t immediately respond to DL News’ requests for comments.

The March 24 ruling specifically bars them from posting claims that Wang defrauded others or spread false information. The two were also ordered to pay 2,500 Singaporean dollars, about 1,900 US dollars, in damages and costs by April 7.

“DeFi is meant to solve trust issues by removing the black boxes of traditional finance. But that doesn’t mean DeFi exists outside the rule of law,” Wong told DL News.

“If we normalize a situation where anyone can spread falsehoods or attack others without any cost, the ones who suffer most are those genuinely building — and ultimately, the entire industry itself.”

The case originated from the June 2025 exploit of stablecoin lending protocol Resupply that cost users $9.3 million. As the protocol allowed users to lend their crvUSD stablecoins into Curve vaults to earn yield, it was perceived by some to be formally affiliated with Curve.

The dispute involved multiple online statements, issued on X and in private group chats, accusing Curve of direct responsibility in the Resupply exploit and levelling personal accusations against Curve contributor Wong.

“Steer clear of all projects associated with Curve/Yearn,” Wang said at the time, to which Curve founder Michael Egorov responded, “no single person from Curve working on that project.”

Egorov told DL News that Curve Finance wasn’t formally involved in the Singapore court case, and Haowi took them to court “just because he loves Curve!”

“He just cannot tolerate FUD!” Egorov told DL News, referring to the common crypto refrain accusing critics of spreading “fear, uncertainty, and doubt” about projects sensitive to volatile investor sentiment.

OneKey said in June that Wang’s advocacy represented his “personal behavior” and that the company “had never instigated, organized or manipulated any KOL or user in any form to launch a public opinion attack on Curve or any project.”

Disclaimer: The two co-founders of DL News were previously core contributors to the Curve protocol.

Ekin Genç is DL News’ Editor-in-Chief based in Oxford, United Kingdom. Got a tip? Email at [email protected].