Ruined retail investors are on the hunt for Do Kwon: FT

Quick Take

  • A group of nearly 4,400 investors have joined forces to find Terraform Labs founder Do Kwon.
  • The so-called UST Restitution Group uses Discord to share clues.

Do Kwon is the most wanted man in crypto, with South Korean authorities, Interpol and now UST Restitution Group trying to track him down. 

The group of nearly 4,400 former Terraform Labs investors has coalesced in an effort to locate the man behind the failed firm, the Financial Times reported.

Many in the group that the paper spoke with said they lost their life savings when Terra collapsed. Now they spend their time scouring the internet for clues on the founders whereabouts and sharing their findings in a Discord group. 

A South Korean court issued a warrant for Do Kwon’s arrest last month and Interpol later issued a red notice for his arrest.

The tech entrepreneur claimed on Twitter that he's "not on the run" and "making zero effort to hide."

"Any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide," he said.

Members of the UST Restitution Group have indicated that Kwon could be in Dubai – with one even flying to Dubai to try to track him down. Other possible locations include Russia, Azerbaijan and the Seychelles.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.