Co-founder of Terra Labs was Last Seen in Dubai, Prosecutors Say

As the South Korean prosecutors have claimed, the co-founder and CEO of Terraform Labs, Do Kwon is still on the run. 

Since the embattled CEO continues to evade arrest by authorities, prosecutors have disclosed his last known location. According to the prosecutor, he was last seen in Singapore where he left for an undisclosed country through Dubai.

Until now, no one has a record of where he might be. Local prosecutors and police have started searching for the fugitive and have requested the help of other countries close to Dubai to help track Kwon’s movement.

Meanwhile, Do Kwon has continuously said he is not in hiding. He said that only specific individuals had the authority to inquire about and become aware of his location. Furthermore, he asserted that he was not on the run “or anything similar,” contrary to what many people believed and that he and his team are in the process of defending themselves in multiple jurisdictions.

After Terra’s demise, Do Kwon continued to believe in Terra, but he finally confessed responsibility for any systemic flaws. The crypto creator acknowledged that he might have been too confident in Terra’s success without taking the risk of failure into account.

South Korean authorities have since launched an investigation into the Terra-Luna ecosystem to prevent a similar occurrence of the crash that drained around $40 billion of investors’ funds.

Last month, authorities issued a red notice for the arrest of Do Kwon after he was declared missing from Singapore. Also, Anonymous, a renowned hacker group, has vowed to look into Do Kwon’s entire history since joining the crypto space to see what it can reveal. The group believes Do Kwon is a scammer.

“There is no doubt that there are many more crimes to be discovered in your trail of destruction,” the group said.

Where is Do Kwon?

Meanwhile, drawing from his recent transfer of 3,313 Bitcoin (BTC) into two overseas crypto exchanges, a group of disgruntled investors still thinks Do Kwon might still be in Dubai. The investors reached this conclusion because the city has friendly crypto regulations and limited extradition treaties.

Also according to a vigilante group UST Restitution Group (URG) Do Kwon might be hiding in Dubai, Russia, Azerbaijan, Russia, Seychelles, or Mauritius.