4,400 Terra Investors Form a Group to Track Down Do Kwon

https://medium.com/@CryptoSavingExpert/4-400-terra-investors-form-the-ust-restitution-group-to-track-down-do-kwon-9782a253584

4,400 Terra Investors Form the UST Restitution Group to Track Down Do Kwon

Disgruntled investors affected by May’s collapse of LUNA and UST are taking matters into their own hands in seeking justice for their losses. According to a Financial Times (FT) report, over 4,400 Terra investors have formed the UST Restitution Group (URG) to track down Do Kwon, whom they believe is hiding from law enforcement.

Do Kwon Could be In Dubai Because it is Very Crypto-Friendly

One such investor and member of the group interviewed by the Financial Times is Kang Hyung-suk, who believes that Do Kwon is hiding in Dubai. Kang told FT that there is a 50–50 chance that the Terra founder is in the city.

They said, ‘Finding him could be easier than thought. I want to recruit other people to join the search. There’s a 50–50 chance of getting him in Dubai.’

Other URG members have a similar theory regarding Do Kwon’s whereabouts and have shared their findings on the group’s Discord channel. Some members believe that Kwon could be in Russia, Azerbaijan, Seychelles or Mauritius, but Dubai remains their first hunch, given that it is very crypto-friendly.

One URG member wrote, ‘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.’

Losses Due to UST’s Collapse Were Devastating

Another URG member, who goes by the pseudonym Antithesis, told FT that they lost a considerable chunk of their savings worth several hundred thousand dollars by investing in UST. They added that their losses have been ‘devastating.’

They said, ‘The entire timetable for my life’s plans has been upended and set back many years. The stress on top of it has also probably shaved off several years from my lifespan.’

HKTrader, another URG member using a pseudonym, shared a similar experience of losing his life savings on TerraUSD. They had intended to buy a house with the funds. They spent almost a month organising a class action suit against Do Kwon in Singapore and tracked him down in the country through a private detective.

But Do Kwon likely slipped out of Singapore, and hence the URG’s goal of tracking him down, even with an existing Interpol Red Notice, an arrest warrant in South Korea and his passport facing nullification by today, October 19th.