Ouyi wallet luna withdrawal suspended

OYi Wallet has suspended LUNA withdrawals due to the Terra ecosystem crisis. The impact is as follows: Impact: Unable to withdraw LUNA from OYi Wallet. Not affected: Other OYi transactions and functions will be restored. Time: As soon as the LUNA ecosystem is stable. Asset processing options: Expected impact of holdings, internal transactions, and staking: It may exert further downward pressure on the price of LUNA. The long-term impact depends on the stability of the Terra ecosystem and the resolution of the UST crisis.

European exchange has suspended LUNA withdrawals

Reason for suspension

European exchange announced the suspension of LUNA withdrawals on May 13. The move comes as the Terra ecosystem faces a serious crisis, including the LUNA price collapse and the decoupling of the TerraUSD (UST) stablecoin.

Impact on users

The impact of LUNA withdrawal suspension on Oyi users is as follows:

• Unable to withdraw LUNA from Oyi wallet: Users are temporarily unable to transfer LUNA from Oyi wallet to other platforms or addresses .
• Other transactions are not affected: Other transactions and functions on Eureka, such as spot trading, futures trading and fiat currency trading, are still running normally.

Resumption time

Oyi has not yet announced the timetable for the reopening of LUNA withdrawals. The exchange said it would resume withdrawals as soon as the LUNA ecosystem stabilizes.

How to handle LUNA assets

During the LUNA withdrawal suspension, users can consider the following options to handle their LUNA assets:

• Hold: Hold your LUNA assets in the hope that the price will rebound in the future.
• Internal Trading: Trade LUNA for other cryptocurrencies such as USDT or BTC inside Ethereum Exchange.
• Staking: Consider staking your LUNA to earn rewards in the Terra ecosystem.

EXPECTED IMPACT

LUNA withdrawal suspension may put further downward pressure on LUNA price. However, the long-term impact will depend on the stability of the Terra ecosystem and how the UST crisis is resolved.

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