- An unlucky crypto investor shared his experience with the crypto community, announcing that he suffered a massive $3.6 billion loss in this altcoin.
Simon Seojoon Kim, a South Korean investor, told Bloomberg during its launch in 2018. to Terra (LUNA) He said he invested in and initially bought over 30 million Luna tokens. One of the early adopters of the cryptocurrency, Kim held the coin despite all the difficulties and his portfolio of 30 million Luna tokens reached up to $ 3.6 billion, a life-changing amount for the investor.
But Kim lost everything after TerraUST and Luna dropped dramatically to $0 in May this year. Luna hit an all-time high of $119 a month before the indices dropped 100 percent.
Kim was just one of hundreds of investors who lost a fortune after the ill-fated cryptocurrency fell to $0. After this event that shook the crypto community, several investors who lost their savings attempted suicide, some attacked the home of Terra founder Kwon, and others fell into a deep depression.
While the stories and cries of investors affected by the Luna collapse, where there are reports of a family of three committing suicide after losing all their money, do not cease, the collapse is engraved in history as an event that investors had to accept, although it was hard to digest.
Kim’s problems went beyond just monetary losses. In at least two local papers, the investor accused him of pumping the Luna token and selling some of his Luna holdings before the crash, questioning his moral responsibility as a key market player.
Denying this, Kim defended himself by saying that he had retained 99 percent of his early Luna investment throughout the crash, and all he was selling were staking rewards.
Investor Survived Terra Luna Crash
Unlike other investors, Kim was lucky enough to survive the crash and continue to live a good life despite losing $3.6 billion. The investor, who stated that he still did not lose his hope in space, announced that he still continues to invest in the crypto, Metaverse and Web3 sectors. Thanks to this belief, Kim has earned a reputation as a “crypto evangelist” in South Korean crypto circles.
The Metaverse sector, who said that he invested early in game tokens such as The Sandbox (SAND) and Axie Infinity (AXS), explained that despite losing a fortune, he did not lose hope in the crypto, Metaverse and Web3 sector.
Despite losing what could be termed a wealth of generations, Kim still remains optimistic. Saying that losses are normal in such investments, the investor said:
“We always believe in the growth of the crypto community and that has never changed. There is no such thing as a portfolio that guarantees success in the tech industry. We make our investments with this in mind.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.