According to the Financial Times, Terra chief Do Kwon is being hounded by at least one investor who lost everything in Terra’s crash and hopes to add people to his team to create a research group. A crypto-currency investor has reportedly decided to take matters into his own hands to bring Do Kwon to justice by himself.
According to the Financial Times, some of the members of a crypto-currency group called “UST Restitution Group” intend to find Kwon’s location. And at least one of them, Kang Hyung-suk, has declared his decision to fly to the United Arab Emirates to find the disgraced Terra founder.”I want to recruit more people to participate in the search“, Kang told the Financial Times. “There’s a 50/50 chance of finding him in Dubai“.Once considered a crypto prodigy, Kwon fell from grace when his invention, the Terra blockchain, saw its native stablecoin UST break its anchor and plunge into a death spiral in early May. The collapse of the ecosystem directly wiped out over $40 billion from the crypto market in just a few days.
Following the collapse, South Korean authorities announced their intention to investigate Kwon as well as Terraform Labs and Luna Guard Foundation. So far, Kwon has refused to return to South Korea; in fact, he has become increasingly secretive about his whereabouts. Previously located in Singapore, he appears to have left the country over the summer, but even that is unclear. Kwon’s elusiveness led Interpol to issue a red notice for him, meaning he is now technically wanted in 195 countries. Despite these facts, Kwon has repeatedly stated on Twitter and in interviews that he is “not on the run” and is only reluctant to divulge his location for security reasons.
The UST restitution group was formed by Terra investors in the wake of the ecosystem implosion; the Discord server in which they gather has nearly 4,400 members. “Its days are numbered“, one of them told the FT. “We have people who are very, very close to Do Kwon“.
Interestingly, although the FT reported that several “vigilantes“The article mentions Russia, Azerbaijan, Seychelles or Mauritius as possible locations.
Instead, it seems that the group members were surprised by the FT report. “This guy goes to Dubai to look for Do Kwon himself“, said one of them after sharing the article. “I wonder how he’ll find it lol“, replied FatMana well-known figure in the cryptographic community. To this, another replied: “He is going to put up posters outside all the malls in Dubai. Have you seen this man?“