Bloodhounds Season 2 Episode 2 begins after the bombing attack on Gun-woo's family. The police investigate the burned vehicle and determine that the explosion was caused by a remotely detonated bomb. Gun-woo realizes that Baek-jeong's organization has access to people with advanced criminal and technical skills. Gun-woo and Woo-jin move So-yeon to a safer location while trying to understand IKFC. Tae-yeong searches for information about the organization and eventually discovers its hidden website on the dark web. The website contains brutal underground boxing matches watched by wealthy gamblers and confirms that IKFC is a major illegal operation. Meanwhile, Baek-jeong makes another move by arranging the escape of Kang In-beom from prison. In-beom is removed from custody through a fake medical emergency and taken to Baek-jeong's men. When In-beom refuses to cooperate, Baek-jeong personally beats him into submission and makes him part of the organization. Woo-jin contacts former Marine senior Moon Gwang-mu and asks for help investigating IKFC. Gwang-mu agrees to help and begins tracking the people who have been following Woo-jin and Gun-woo. Baek-jeong's men decide that Woo-jin can be used as leverage against Gun-woo. Sergeant Yun leads Woo-jin and Gwang-mu into an ambush. A brutal fight follows, and Yun uses knives to slash Woo-jin's hands, seriously injuring him and threatening his boxing career. Gwang-mu also suffers serious injuries while trying to protect Woo-jin. Gun-woo arrives after the attack and finds his friend badly wounded. He rushes Woo-jin and Gwang-mu to the hospital, devastated that Baek-jeong has once again targeted the people closest to him. Episode 2 ends with Gun-woo realizing that Baek-jeong's threat is much larger than a boxing rivalry. IKFC has money, technology, criminal connections, and dangerous fighters. Gun-woo and his friends must now build their own team if they hope to survive and eventually destroy Baek-jeong's organization.