The Luna Coin Collapse Fuels Social Media Stories of Financial Ruin

The Luna Coin Collapse Fuels Social Media Stories of Financial Ruin ...

The following remarks were not faded.

"Lost money on luna and ust," he said. "What can I me please."

''''A Nightmare''''

"I put some of my money on a crypto protocol called anchor for a safe 20% annual return," the commenter said. "But now my money is a fraction of what it used to be. I don''t think ill have enough to pay for next semester, nor do I finish school."

The post was one of many similar social media statements of loss and ruin made by investors who claimed they had suffered serious financial harm following the collapse of UST and its sister coin Luna.

The price of Luna was lowered this week, according to CoinGecko, at the time of writing. Its market value was down from $41 billion to $1.936 billion. In other words, Luna investors have lost almost everything.

This is especially true for UST, the Luna-Supra token, with which the cryptocurrency sat in tandem. UST has lost its value to the dollar and is currently worth $0.149973. Its market value fell from $18.770 billion on May 9 to $1.672 billion.

Both currencies experienced the collapse last weekend of the algorithmic system that UST''s dollar peg is backed by, decreasing supply, and vice versa, instead of reserves made up of traditional assets.

"My husband and I purchased our house on Luna but I am still trying to understand if it is happening or just nightmare," one person said in a tweet that included several emotive messages.

One person responded by saying, "You honestly got what you deserved for your greed."

"Man I was about to establish my first bakery, had my last 30k on Luna," one commenter said. "Hoping I would be able to make some money on it, and buy the finest equipment, now the bakery will have to wait for another 2-3 years."

''''Suicide in A Chair''''

"I''m lost, I''m about to commit suicide in a chair," another person said on Reddit. "I lost my life savings in the investments of (LUNA UST) the worst thing is that 3 weeks ago I proposed to my girlfriend. She doesn''t know anything, I lost 62 thousand dollars. I''m here I''m not sure what to do."

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One Reddit commenter posted a lengthy statement about his Luna losses, including his savings and his marriage.

"I literally lost everything I had so hard for in the last few years in in a matter of 24 hours," the person said.

Social media can be a harsh place, and one Twitter user slammed for making such harsh comments.

"This situation has shown me how many sh-ty people there are in the world," a person said. "The amount of cruelty/lack of empathy for those who have lost everything is sickening. It''s truly worrisome. I''m not sure if I said it now is the time for me to say it.

"Suck it up, (be) a guy," one statement said.

"Don''t go deep into crypto anymore you dumbasses," another Reddit poster said. "Buffett made $100 billion with stocks rather than an internet coin."

''''I Want Revenge''''

One Redditt poster who claimed to have "lost my entire life savings of over $200,000" wanted a return.

"I will not accept this from start-over," the person said. "I want revenge...F-ck accepting this as fate!" We all need to rise up and remove those who have stolen from us."

Many people were exaggerated for their UST and Luna losses, although at least one report of "8 confirmed suicides" had been found.

Many posters expressed concern about the personal safety of troubled investors, and one sub-Reddit forum included links to international assistance organizations.

"Please do not kill yourself," one person said. "I know it feels like the world is ending and you''re at rock bottom if you lost all your money from Luna/UST and maybe you even lost some of your friends or families money, investors, etc. I don''t know who has to see this but it will be okay."

"Your life is worth more than money," a Reddit poster said. "The universe has a method of working things out to bless threefold what u lost. Just hang in there. It will work out. You are valued, valued, and have a purpose in this life! "

Several commenters said it''s time for a fresh start.

"Anyone here has the capability to rebuild, so long as we have our health," one person said. "Draw the line in the sand and start over."

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