Thinly slice the bottom 4 inches of the lemongrass, place in a blender with the red chiles, onion, garlic, curry paste and water. Process until smooth.

In a medium, nonreactive bowl combine the shrimp with the soy sauce. Let stand 10 minutes.

In a medium saucepan, heat the oil. When hot, add the blended spice paste and cook, stirring, until fragrant, 6 to 8 minutes. Add the coconut milk and water. Cover and simmer until sauce begins to thicken, about 15 minutes. Add shrimp to the saucepan and cook until just cooked through, 3 to 4 minutes longer.

In a saute pan over medium-high heat, add about 1 to 2 tablespoons olive oil. Once heated, add the scallions and peppers and saute. Add the shrimp, sauce and noodles and toss to combine. Garnish with the cilantro and peanuts.