A Singapore court has intervened in a high-profile decentralized finance (DeFi) dispute, issuing a landmark ruling that halts false claims and harassment against Curve Finance contributor Haowi Wong. The Singapore State Courts, specifically the Protection from Harassment Court, ordered on June 28, 2025, that two individuals—Wang Lei (also known as Yishi), founder of crypto wallet OneKey, and the pseudonymous user behind the X account @web3feng—must cease making threatening or abusive statements about Wong.
The legal action stemmed from the fallout of a $9.3 million exploit of the stablecoin lending protocol Resupply on June 15, 2025. The protocol allowed users to lend Curve's crvUSD stablecoin into Curve vaults to earn yield, leading some in the community to incorrectly perceive a formal affiliation with Curve Finance. Following the exploit, coordinated online campaigns on platforms like X and in private group chats accused Curve of direct responsibility and leveled personal accusations against contributor Wong.
"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 court's ruling specifically bars the respondents from posting claims that Wong defrauded others or spread false information. The two individuals, who did not appear in court, were also ordered to pay 2,500 Singaporean dollars (approximately $1,900) in damages and costs by April 7, 2026. The court emphasized that while community scrutiny is fundamental to decentralized systems, it does not justify personal attacks or the dissemination of provably false information.
Curve founder Michael Egorov clarified to DL News that Curve Finance was not formally involved in the court case, stating that Wong took action "just because he loves Curve!" and "cannot tolerate FUD!" OneKey stated in June 2025 that Wang's advocacy represented his "personal behavior" and that the company had never instigated any public opinion attack on Curve.
This case represents one of the first applications of Singapore's Protection from Harassment Act specifically to DeFi community dynamics, establishing that open-source contributors maintain legal protections against unfounded allegations. The ruling sets a precedent for the intersection of decentralized governance and traditional legal systems, clarifying the boundaries between legitimate criticism and unlawful harassment in the crypto space.
