“Crypto Man”: The Do Kwon Scandal Heads to the Silver Screen
South Korean filmmakers are bringing the controversial rise and fall of Do Kwon and his Terra/LUNA empire to cinemas in a gripping new film.
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South Korean filmmakers are bringing the controversial rise and fall of Do Kwon and his Terra/LUNA empire to cinemas in a gripping new film.
The dramatic $45 billion crash of TerraUSD (UST) and LUNA in May 2022 has inspired South Korean filmmaker Harry Hyun to create Crypto Man, a film examining the human toll of speculative finance.
Through the story of Terraform Labs’ controversial founder Do Kwon, Hyun (a female director, despite her name) seeks to highlight the vulnerabilities of youth drawn into financial speculation.
Director Harry Hyun. Source: LinkedIn
Do Kwon takes his place alongside infamous financial figures like Jordan Belfort, immortalized in The Wolf of Wall Street, as filmmakers continue to mine the financial world for compelling stories.
The late actor Song Jae-rim played the protagonist in Crypto Man, a self-declared business mastermind who launches an altcoin called MOMMY.
Sadly, Song’s personal story took a darker turn. The celebrated actor was found dead on November 12, 2024, with police investigations suggesting suicide as the likely cause.
Director Hyun noted that the film captures
the reality of young people who are addicted to stocks during the day and coin speculation at night
According to the director, the plot incorporates dark comedy elements and traces the protagonist’s path as he faces life-changing decisions.
For context, South Korean crypto mogul Do Kwon was arrested at Montenegro’s Podgorica Airport on March 23, 2023, while trying to flee to Dubai. Listed as one of the world’s most sought-after fugitives, he was caught using fake documents under an alias. The Terra crash left over 200,000 investors in South Korea reeling from financial losses.
Don’t miss: Top 7 Crypto Movies and Documentaries to Watch in 2024
“Crypto Man” is scheduled to debut in South Korea on January 15, 2025, with MooAm Productions managing its release. Director Hyun revealed that legal counsel was sought ahead of filming, given the ongoing litigation surrounding the Terra scandal.
Announcement for “Crypto Man”. Source: The Film Catalogue
Cryptocurrency’s tumultuous history continues to inspire filmmakers. Apple and A24 have recently teamed up with Lena Dunham to adapt the FTX exchange’s implosion into a major motion picture, reflecting Hollywood’s growing fascination with crypto scandals.
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