4,400 crypto investors hunt for CEO
Do Kwon, the disgraced crypto prodigy who co-founded Terraform Labs, may soon face a vigilante brand of justice when a desperate investor decides to take matters into his own hands and go the extra mile just to find him and seek retribution.
As the South Korean national continues his Houdini act to avoid capture, frustration is growing among investors who lost a fortune after the May Terra Crash that wiped around $40 billion from the crypto market in a matter of days.
However, this paved the way for retail crypto investors to join forces in a large-scale hunt aimed at flushing Do Kwon out from wherever he is currently hiding.
Around 4,400 members make up UST Restitution Group (URG) which is now actively following every last detail and information about where the Interpol Red-Noticed crypto top honcho might be.
Put Kwon in the crosshairs of angry investors
Dubai, Russia, Azerbaijan, Seychelles and Mauritius are some of the places where Do Kwon may be hiding right now based on clues gathered by URG members coordinating the effort through Discord.
But based on recent activities involving the Terra founder as his suspect transfer of 3,313 Bitcoin to two foreign crypto exchanges last month, a number of retail crypto investors believe he may be in Dubai.
Terraform Labs co-founder Do Kwon. Image: InsideBitcoins
According to them, the site is crypto-friendly in terms of regulations and may have been the perfect place for Do Kwon to facilitate the BTC transfers. The Emirati city has limited extradition agreements.
Fortunately for URG, an opportunity to confirm this theory has arrived, which Kang Hyung-sukone of their members, will fly to the United Arab Emirates to try to find Do Kwon.
This could turn out to be ugly for Kwon as Kang has already made it clear that he has put justice into his own hands. He (Kang) is also asking his fellow investors to join him on this quest to finally bring justice to all who have suffered due to Terra Lab’s massive collapse.
He’s not on the run?
It seems the once high-flying crypto expert is playing mind games with the authorities like him denies be on the run from the prosecution and the police.
On September 27, 2022, various online media reported that Do Kwon responded to a Twitter comment asking where he is, saying that he is currently in his living room “writing code”.
Based on the location feature of the social media platform, Kwon appeared to be in Singapore. It was later confirmed to be untrue by the city’s police force.
As the Terra founder continues to hide and avoid arrest, URG will continue to pursue clues that will determine his whereabouts. For now, the focus is on Kang Hyung-suk as he embarks on a mission to find the elusive crypto figure.
Crypto total market cap at $876 billion on the daily chart | Featured image from National Geographic, Chart: TradingView.com Disclaimer: The analysis represents the author's personal views and should not be construed as investment advice.
