Terra investors form a team to search for Do Kwon

Investors harmed by the collapse of the Terra ecosystem have formed the UST Restitution Group (URG) to search for the founder of Terraform Labs Do Kwon. The Financial Times reports.

URG comprises 4,400 investors. They scan the internet in hopes of uncovering traces that could help locate the ‘fugitive’. Among the locations mooted are Russia, Dubai, Azerbaijan, and a yacht at sea.

Kwon is being sought by the South Korean authorities along with five other Terraform Labs employees on charges related to the collapse of the Terra project.

According to media reports, the Seoul Southern District Prosecutors’ Office asked the Ministry of Foreign Affairs to revoke his passport and sent a request to Interpol for a red notice.

URG was formed on May 16 as a Discord chat room aimed at helping Terra collapse victims file lawsuits.

Earlier, Do Kwon said that ‘is not on the run’ and is cooperating with law enforcement.

In October, the founder of Terraform Labs denied the charges against him and refused to name his country of residence. Do Kwon described the case against him as illegal and politically motivated.

Read ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analysis.