Losing hundreds of thousands of dollars in digital money because of believing in the 'top coin'

  Dang Thanh (Dak Nong) spent more than 100,000 USD to buy Terra digital currency (LUNA)

The price of this token rose to nearly $97 at the end of April, before reaching $86 per coin on May 6. Thanks to that, he made a few thousand dollars in just half a month.

However, on May 9, the price of LUNA "falled vertically" from 77 USD to 5 USD and on 12/5 it was only 0.1 USD/dong.

"Because I didn't set a stoploss, I almost lost all my money overnight. Now, when I look at my account with a few dozen dollars left, I can only delete the app and try to forget it," Mr. Thanh said. Stoploss is a feature that allows players of cryptocurrencies or securities to pre-set the selling price to cut losses. When it reaches this price, the token will automatically be sold.

Before losing more than $ 100,000, Mr. Thanh believes he does not lose too much even when the market "collapses" because LUNA is on the list of "top coins", less volatile compared to other coins. But now, he admits he was wrong.

Meanwhile, Le Diep (Thanh Hoa) also lost 20,000 USD. On May 11, thinking that this token had hit a "bottom" when it dropped to 18 USD per coin, she invested all of her savings in the hope of making a profit. However, LUNA continued to decrease to one USD, making Diep's account only a few dozen dollars in a few hours.

On social networking groups, the topic LUNA appeared with a sharp increase in frequency since May 9. Some said they lost all their assets because they believed in LUNA. The amount of damage is listed from tens to hundreds of thousands of dollars, some people even lost nearly a million dollars.
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