The group of investors that tracked Do Kwon’s escape determined he had left Singapore and many assumed he was in Dubai. Korean prosecutors have confirmed this information “Not False”.
As mentioned in an earlier Coincu News article, About 4,400 crypto investors have formed the UST Restitution Group (URG) to follow Terra’s founder Do Kwon on a global scale. They said he was most likely in Dubai.
Recent suggestions suggest that Kwon may be residing in Dubai, Russia, Azerbaijan, Seychelles or Mauritius. However, the majority of investors assume that Kwon could be in Dubai due to the region’s crypto-friendly regulations.
On October 21, according to Bloomberg, prosecutors in Seoul said in a text message late Thursday that a report Kwon had left Singapore and flown to Dubai likely as a stopover to destinations unknown “was not false”.
After the Terra ecosystem collapsed in May, wiping out $60 billion in worth, Kwon was accused of breaking South Korean capital markets laws.
Kwon dismissed rumors that he was on the run after leaving his nation for Singapore, despite Interpol issuing a Red Notice for his arrest. He asserted that he had relocated there prior to the Terra ecosystem’s collapse.
He recently participated in an interview with Laura Shin, the crypto podcast Unchained. During the conversation, Do Kwon called the charges brought by South Korean prosecutors “politically motivated” and stressed that he was not on the run.
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