Investors hit by the collapse of the Terra ecosystem have teamed up with the UST Restitution Group (URG) to search for Terraform Labs founder Do Kwon. This is reported by the Financial Times.
URG includes 4,400 investors. They monitor the Internet in the hope of finding traces that will help find the “fugitive”. Among the versions of its location appear Russia, Dubai, Azerbaijan and a yacht on the high seas.
Kwon is wanted by the South Korean authorities along with five other employees of Terraform Labs on charges related to the collapse of the Terra project.
According to media reports, the Seoul Southern District Prosecutor’s Office asked the Ministry of Foreign Affairs to cancel his passport and sent a “red notice” request to Interpol.
URG started on May 16 as a Discord chat room to help investors affected by the Terra crash file lawsuits.
Recall that in September, Do Kwon said that he was “not on the run” and was cooperating with law enforcement officers.
In October, the founder of Terra denied the allegations against him and declined to name his country of residence. Do Kwon described the case against him as illegal and politically motivated.