Recently, an interesting discovery regarding Terraform Labs caught my attention. This company, registered in Singapore and serving as the parent company of the Terra project, has a registered capital of only 12 Singapore dollars, which is approximately 50 Chinese yuan based on the exchange rate at that time. This information comes from the Singapore ACRA government website and can be obtained by paying a fee of 5.5 Singapore dollars.

The company's equity structure shows that Do Kwon holds 11 Singapore dollars of shares, while another American shareholder only holds 1 Singapore dollar of shares. This finding is surprising, especially considering the Terra project's previous influence in the cryptocurrency market.

This situation highlights the importance of conducting in-depth investigations into the project background. Many investors who suffered significant losses in the Terra collapse may not have fully understood the fundamental situation of the company. This phenomenon of 'empty-handedly catching a wolf' is not uncommon in the cryptocurrency industry, but it is still alarming.

It is worth mentioning that Singapore's company registration system exhibits impressive transparency. Any Singapore resident holding a local identity can obtain detailed information about locally registered companies through the ACRA website. This transparency not only benefits background checks in business collaborations but also provides valuable information sources for job seekers and investors.

However, it is important to emphasize that although this information can be legally obtained, its public dissemination may violate the law due to the inclusion of personal sensitive information. This reminds us to act with caution when using this information and to respect the privacy of others.

This event not only reveals the corporate structure behind cryptocurrency projects but also highlights the importance of conducting thorough due diligence in investment decisions. At the same time, it demonstrates the crucial role of regulatory transparency in mitigating potential risks.