Terra Classic: LFG and Do Kwon dispute $66 million bitcoin transfer

© Reuters – Yesterday it was reported that Do Kwon founder Do Kwon transferred over $3,000 worth over $66 million to the two cryptocurrency exchanges KuCoin and OKX from a new Luna Wallet Foundation Guard (LFG).

The South Korean prosecution then asked the two platforms to freeze the funds. As part of the report, the LFG said it had not transferred any or other tokens since the Terra Luna crisis in May. According to the organization, there has also been no creation of new wallets.

Do Kwon, who is the subject of an international search by Interpol, spoke out on Twitter (NYSE:). According to him, he has not used the two mentioned exchanges for at least a year. In this context, he points out that a lot of misinformation is being spread:

“What is most astonishing about this whole thing is the extent of the disinformation that is being spread. There is no payment, as it is claimed, I did not use the KuCoin or Okex, at least not last year. There was no freezing of funds from tfl, lfg or any other company.”

Terra Classic: Technical thresholds

is currently losing -10.70% at a price of 0.0002623 dollars, while the weekly loss amounts to -7.88%.

The cryptocurrency pulled back from its recent high of the $0.0003263 area and has already broken through the support at the 61.8% Fibo retracement of $0.0002775. If the move below this support is confirmed at the close of the day, we should expect a continuation of the bearish movement towards the psychological level of $0.0002000. This level is reinforced by the 78.6 percent Fibo retracement of $0.0001921.

Terra Classic (Monc) Tageschart

Only if the bulls manage to reclaim the 61.8% Fibo retracement sustainably can the recent high from September 26 and the 50% Fibo retracement at $0.0003375 be tested.

By Marco Oehrl

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