‘I lost my life savings’: Terra Luna cryptocurrency collapses 98% overnight

has fallen by more than 99 per cent, wiping out the fortunes of crypto investors., having peaked close to $120 last month.

“I lost all my life savings,” one member of the r/TerraLuna sub-Reddit wrote. “Had bought Luna at $85, not sure what to do.” Some members shared suicidal posts after seeing their holdings become worthless overnight, while others offered support by sharing links to suicide hotlines around the world. The Terra crash comes amid a downturn for the broader crypto market, which has seen bitcoin fall more than 50 per cent since its all-time high of close to $69,000 in November, however the demise of LUNA has been compounded by issues with Terra’s dollar-pegged stablecoin UST.Earlier this week, UST decoupled from the dollar and fell to as low as $0.29.

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