As individual investors work to recover from the severe losses brought on by the collapse of his TerraUSD and Luna coins in May, the manhunt for Do Kwon is escalating internationally.
The “UST Restitution Group” (URG), a Discord community with 4,400 members, has been looking for Terra co-founder Kwon’s whereabouts. They’ve said he might be living somewhere like Russia, Dubai, Azerbaijan, or even on a yacht.
Despite actions taken by South Korean authorities to bring Kwon to justice, including the issuance of an arrest warrant by a Seoul court on September 14 and an Interpol “Red Notice” to law enforcement agencies worldwide in response to the warrant, they are still making an effort to do so.
According to a Financial Times report dated October 19, one member of URG, Kan Hyung-suk, will shortly be flying to Dubai, where many members believe Kwon is hiding. “Dubai is friendly to crypto, very international (he would not stand out), and has limited extradition treaties in place. It would seem like the best fit for the 3-5 hour timezone shift apparent in the data,” the report stated.
Kwon is not living in South Korea
However, Kwon shared a rare update on what has evolved into one of the most high-profile events in the cryptocurrency industry this year in the wake of the $40 billion wipeout of his Terra blockchain. He claims that the charges brought against him by the South Korean prosecutors are unfounded and politically motivated.
Kwon stated that he has not yet received a copy of Interpol’s red notice and that, to the best of his knowledge, the order does not contain an international arrest warrant. The South Korean prosecutors’ “all the document requirements” are being complied with, he claimed.
“The second point of clarification is that since the end of last year, I haven’t been living in South Korea. So it wouldn’t be accurate to say [the order is about me] returning to South Korea. The more accurate point would be would I travel to South Korea,” he told journalist Laura Shin on her podcast Unchained.