Terra Classic (LUNC): Where is Do Kwon? – TFL talks about security risk

© Reuters

Investing.com – The founder of , Do Kwon, is now the subject of an arrest warrant issued by the South Korean prosecutor’s office, but also an international warrant issued by Interpol.

The prosecution has issued charges of violation of the securities law. This was revealed by an investigation opened following the collapse of the Terra blockchain.

Do Kwon, who claims on Twitter (NYSE:) that he is ready to cooperate, however, does not seem interested in a confrontation with law enforcement authorities. Earlier this week, it was reported that Do Kwon transferred over 3000 worth over $66 million to two crypto exchanges from a Luna Foundation Guard (LFG) wallet. The public prosecutor got wind of it and asked the two platforms to freeze the funds.

Do Kwon and LFG denied the existence of such a transaction.

For its part, Terra Form Labs (TFL) declared that Do Kwon was not on the run. The reason he didn’t turn himself in to law enforcement is that he and his family fear for their integrity after the Terra crash that ruined thousands of people:

“Do Kwon’s whereabouts have been kept secret for months, as he and his family are at constant security risk.”

Terra Classic Technical Price Markers

The rose today by 7.87% to a price of 0.0002816 dollars, while the weekly loss amounts to -1.73%.

The 61.8% Fibo retracement appears to offer good support at $0.0002775 as the bulls managed to prevent a daily close below this level for two days in a row. While this is the case, a rally towards the 50 percent Fibo retracement of $0.0003375 may take place. Beyond that, the room for an extension of gains towards the 38.2% Fibo retracement of $0.0003975 would increase.

Terra Classic (LUNC)

Only if there is a sustained decline in the 61.8% Fibo retracement will the focus shift to the 78.6% Fibo retracement of $0.0001921. Along the way, however, the psychological threshold of $0.0002000 will have to be crossed.

By Marco Oehrl

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