The law will not foot the bill for greed, but every judgment in the market is establishing rules for the crypto world.

【Plain Language Interpretation】

In simple terms, Do Kwon, who once crashed Terra and Luna, faced a setback buying a luxury penthouse in Singapore. Five months before the crash, he had his eye on a duplex penthouse worth 38.8 million Singapore dollars (about 200 million yuan), initially paying almost half the amount (19.4 million) to secure the purchase rights. However, he ultimately failed to pay the final installment, and the property was resold by the developer to someone else. The developer confiscated his money, but he was unwilling to accept this, so he had his wife sue in court for a refund. Recently, the Singapore High Court dismissed the case—he didn't get his money back and lost the lawsuit.

【Impact and Perspective】

Clarification of legal boundaries: This incident appears to be a property dispute but actually struck a legal hammer for the crypto industry—regardless of how glorious a project party once was, once real-world asset transactions are involved, traditional laws will not yield due to the 'special nature of cryptocurrency.'

Exposure of funding flow risks: Before the crash of Terra, Do Kwon heavily utilized substantial funds to purchase physical assets, indirectly confirming that the project party may have had early warnings about the crash but still chose to transfer funds. Such actions will be more closely monitored by regulators in the future.

Difficulties in rebuilding market trust: Even after two years, the Terra incident still haunts the industry like a ghost. Such news repeatedly reminds users that the transparency of underlying assets in crypto projects and the moral risks of founders are always the first hurdle for investment.

【Hook Ending】

If Do Kwon's money could have been used to compensate the victims of Terra, would the story have been different?

Follow us for insights as we dissect more of the 'pre-run operations' of crypto tycoons—next time you see similar signals, perhaps you can be more alert earlier. #Solana质押型ETF