In the second episode of Bloodhounds' Season 2, the narrative unfolds with Gun-woo and Woo-jin reporting a kidnapping incident to the police. So-yeon receives medical attention after a cop informs Detective Choi Gyeong-won that the CCTV footage around the house has been tampered with. The boys inform Gyeong-won that Baek-yeong had intimidated them, urging Gun-woo to join his unlawful boxing club. Gun-woo adds that Adik is missing, speculating if Baek-yeong and his associates are involved.
The cop advises Woo-jin and Gun-woo to relocate to a different location, and the boys, along with So-yeon, move into Tae-yeong's apartment.
Meanwhile, Gyeong-won investigates the burned-out car and discovers that a homemade bomb was planted inside the vehicle and detonated using a mobile device. The police deduce that the bomb was likely crafted by a bomb expert. Gyeong-won finds a burned wallet in the car containing a business card belonging to So Jin-nam, a bodyguard.
At Tae-yeong's apartment, Woo-jin enlists her help in learning more about IKFC. Tae-yeong conducts an online search for the fight club but finds no information. She delves into the dark web and discovers a website for the club, where she watches a video of a previous match, revealing the brutal nature of the fights. When she attempts to gather details about an upcoming match, Tae-yeong encounters a paywall. She cautions the boys about the dangers of using personal information like credit card details on the dark web. Gun-woo suggests seeking assistance from Woo-jin's Marine senior, Mr. Moon Gwang-mu, to use a mule card.
Meanwhile, Sergeant Yun and Allen, who were tailing the boys at Tae-yeong's house, followed Woo-jin to uncover his true intentions. Elsewhere, In-beom swallowed the pill sent by Mr. Lee and began convulsing, with foam at his mouth. The prison guards called for an ambulance, but the driver beat a guard and threw him out, taking the vehicle to Mr. Lee's hideout. A doctor then injected an antidote into In-beom to revive him. Once awake, Mr. Lee introduced himself and informed In-beom that he couldn't leave. In-beom fought against the guards and knocked them out. Baek-yeong, observing from his car, stepped in and brutally beat In-beom to make him comply.
Meanwhile, Woo-jin met Gwang-mu and told him about Baek-yeong's fight club. He asked for help with a mule card, and Gwang-mu agreed, also offering to join their fight against Baek-yeong. He checked if Woo-jin was being followed and sent him out, which confirmed his suspicion. Gwang-mu noted the car plate number of Sergeant Yun's vehicle and had it traced. He followed the car tailing Woo-jin and attempted to trap him.
At the same time, he asked Woo-jin to evacuate Gun-woo, So-yeon, and Tae-yeong from the apartment since their location had been compromised. With no other options, Gun-woo sought help from Min-beom. Min-beom's assistant hid So-yeon and Tae-yeong at one of his hotels. Gun-woo took a bike and followed Woo-jin to help him and Gwang-mu.
Meanwhile, Sergeant Yun called Baek-yeong and asked for backup, suggesting they kidnap Woo-jin instead of So-yeon. He claimed this would be just as effective in forcing Gun-woo to join them. Baek-yeong told Mr. Lee to send fighters to assist.
Meanwhile, Sergeant Yun led Woo-jin and Gwang-mu to an abandoned yard and fought them both. When he couldn't take Woo-jin down, he used knives to slit Woo-jin's wrist multiple times. As backup fighters arrived, Sergeant Yun and Allen left, hoping to find Gun-woo or his mother. Since Gun-woo had already hidden them, Yun reported back to Baek-yeong. Baek-yeong was disappointed and threatened to kill Yun's daughter if he failed again.
Coincidentally, Gun-woo arrived at the yard and found Woo-jin and Gwang-mu badly injured. He fought off the attackers and took them to the hospital as the episode came to an end.
