Singapore Court Intervenes in Crypto Dispute Over 2025 Exploit

A Singapore court has mandated that two figures in the cryptocurrency industry cease issuing threatening or defamatory statements. This action stems from an ongoing dispute related to the 2025 Resupply decentralized finance (DeFi) exploit.

The order, dated March 24, specifically targets Wang Lei, the founder of the crypto wallet OneKey, and the individual operating the X account “web3feng.” The court action was initiated by the pseudonymous Curve contributor known as “Haowi Wong” on X.

Scope of the Court Order

The Protection from Harassment Court order explicitly prohibits the respondents from posting content that alleges fraud or spreads false information about the claimant, Haowi Wong. Furthermore, the order bars any threatening, abusive, or insulting communications directed at Wong.

As part of the ruling, Wang Lei and “web3feng” are required to remit a combined total of 2,500 Singapore dollars to cover compensation and associated costs. This payment must be completed by April 7.

Background: The 2025 Resupply Exploit

The conflict is rooted in the aftermath of the Resupply exploit, which was confirmed in June 2025. The exploit targeted Resupply’s wstUSR market, leveraging a price manipulation vulnerability.

This vulnerability allowed an attacker to successfully drain millions of dollars from the protocol. The dispute involves connections to Curve-related infrastructure due to the use of cvcrvUSD and various vault integrations.

Statements from Involved Parties

Curve founder Michael Egorov had previously commented on the exploit’s connection to Curve infrastructure.

In a statement provided to Cointelegraph on Tuesday, Haowi Wong noted that the situation escalated significantly following the exploit. Wong stated that this led to sustained attacks and serious allegations originating from Wang Lei and the “web3feng” account.

Wong emphasized the critical nature of trust in the industry, asserting, “In an industry where trust is of fundamental importance, the repeated spread of misinformation carries real consequences.”

Industry Context on Defamation

Curve Finance commented to Cointelegraph on Tuesday regarding the challenges within the crypto sector. The firm noted that disputes frequently cross the boundary between legitimate criticism and outright falsehoods and defamation.

Curve added that distorted claims possess the potential to erode ecosystem trust and cause harm to various participants.