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4,400 Angry Investors Chase Terra Co-Founder Do Kwon: Is He In Dubai?



A Discord group called the UST Restitution Group (URG) with 4,400 members has attempted to track down the whereabouts of Terra co-founder Do Kwon.


Disappointed that law enforcement is getting stuck in this regard, the group scours the internet for clues and shares them with the group to track down Kwon.


Members suspect that he could be in Russia, Dubai, Azerbaijan or even on a yacht.


Authorities in South Korea, meanwhile, have taken important steps to bring Kwon to justice: a court in Seoul issued an arrest warrant for him on September 14, and Interpol is due to issue him a so-called "red notice" on September 26 in response to the warrant. - List have set .


The URG was founded on May 16th as a chat room for Terra investors and aimed to help its members file lawsuits. This was intended to help people recover their money lost by decoupling from the US dollar on TerraUSD Classic (USTC), the ecosystem's former stablecoin.


URG member Kan Hyung-suk plans to travel to Dubai soon, according to an Oct. 19 report in the Financial Times. Many members of the group believe that Kwon is hiding there. Another URG member said:


“Dubai is crypto-friendly, very international (he wouldn't be noticed) and has few extradition treaties. That would fit with the discernible 3-5 hour time zone shift seen in the data.”

Hyung-suk is a software engineer and former employee of Terraform Labs, the company behind the Terra blockchain. He has been a member of the URG since May 26.


Kwon, who earned a controversial reputation for himself in the wake of the collapse of the Terra ecosystem, claims he is not "on the run" and is fully cooperating with any government agencies who contact him.

Kwon was interviewed by Laura Shin, a crypto journalist and host of the podcast Unchained, on October 19 . She asked several questions about the current events.


When asked about his current whereabouts, Kwon stated that he moved away from Singapore after the Terra collapse out of concern for his personal safety after someone broke into his home:


"I don't want to reveal where I live, but not because I'm on the run. It's just that every time the place where I live becomes known, it becomes almost impossible for me to live there ."

A spokesman for Terraform Labs claims the charges against Kwon are "highly politicized" and that South Korean prosecutors have arbitrarily expanded the definition of securities in response to public pressure. Kwon also claimed something similar in his conversation with Shin.

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