The Blockchain Cafe - Your Guide to Decentralized Finance and Cryptocurrency
No Result
View All Result
Saturday, June 10, 2023
  • Login
  • News Story
  • Blockchain
  • Cryptocurrency
    • Exchanges
  • NFT
  • Metaverse
  • DAO
  • Listicle
Subscribe
The Blockchain Cafe - Your Guide to Decentralized Finance and Cryptocurrency
  • News Story
  • Blockchain
  • Cryptocurrency
    • Exchanges
  • NFT
  • Metaverse
  • DAO
  • Listicle
No Result
View All Result
The Blockchain Cafe - Your Guide to Decentralized Finance and Cryptocurrency
No Result
View All Result
ADVERTISEMENT
Home News Story

“The money was my safety net”: How the Terra Crash Destroyed the Lives of Small Investors

by Ashutosh Thakur
May 25, 2022
in News Story
132
0
“The money was my safety net”: How the Terra Crash Destroyed the Lives of Small Investors
153
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

The Terra crash primarily became the talk of the hour as a disaster for the crypto market. Some speak came forward to speak about a failed experiment, while others for scams. More than $38 billion got wiped out in one week. But according to the BBC, around 250,000 people have invested in Terra, many of them in South Korea – and large sums. The crash is, therefore, also a human tragedy.

Its dimensions are slowly becoming visible. More and more people share their fate in media reports and social media. Her life became upside down in one fell swoop. Families break up, victims become depressed, and they contemplate suicide. Some are banding together for a class-action lawsuit against the founder of Terra Do Kwonthe. The South Korean authorities are also planning steps against him.”I felt like I was dying”

According to LKB & Partners, many cheated crypto investors are in debt due to the crash. The law firm conducts a class action lawsuit against Terra that includes more than 1,700 people.” Most investors when in their 30s and 40s lost their retirement savings,” so Kim Hyun-kwonan, attorney for the firm.

A South Korean Crypto Streamer went through losses of Nearly $1 Million, according to the reports from BBC. He knocked on DoKwon’ss door, wanted to confront him – and was taken away by the police.” I felt like I was dying,” he says of the crash moment. You can find all the background information about the Terra (LUNA) crash here.”It was my whole family’s money, saved up for the year” I am a single mother of two from Ukraine. The money was my safety net,” one woman wrote in a statement to the Terra Research Forum, a Terra analytics platform. Over 100 victims of the crash were reported there. They all had invested their fortunes inTerra’ss popular DeFi platform, Anchor. She promised 20 per cent interest – and the greatest possible security.”Our currency is unstable because of the war. I just wanted to save money”, says the Ukrainian.”It was my whole family’s, saved up for years” Now she is afraid that she will no longer be able to take care of her children.”I’m ashamed that this happened to me.”

On average, it took victims three years to accumulate their invested assets, according to the Terra Research Forum statistics shared by a member named FatMan. They lost it within a week. Almost half of the victims who have come forward struggle with suicidal thoughts.

Terra founder Do Kwon tweeted,” I love chaos,+.” before the crash.

RelatedPosts

On the issue of Bitcoin (BTC) supply

Bali wants to crack down on crypto-payments

Binance under dark clouds

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Related Posts

On the issue of Bitcoin (BTC) supply
News Story

On the issue of Bitcoin (BTC) supply

June 8, 2023
1.9k
Bali wants to crack down on crypto-payments
News Story

Bali wants to crack down on crypto-payments

June 7, 2023
1.9k
Binance under dark clouds
News Story

Binance under dark clouds

June 7, 2023
1.9k
Mercado Bitcoin authorized as a payment institution in Brazil
News Story

Mercado Bitcoin authorized as a payment institution in Brazil

June 7, 2023
1.9k
Coinbase stock takes a 20% slap following SEC complaint
News Story

Coinbase stock takes a 20% slap following SEC complaint

June 7, 2023
1.9k
El Salvador: Tether bets $1 billion on green bitcoin mining
News Story

El Salvador: Tether bets $1 billion on green bitcoin mining

June 6, 2023
1.9k
Load More
  • Trending
  • Comments
  • Latest
-The Blockchain Cafe

Write for us – guest post

April 14, 2022
Important Update On The Celsius Network

Important Update On The Celsius Network

June 14, 2022
TCS-The Blockchain Cafe

TCS roll-outs Quartz DevKit to help businesses build blockchain applications 40% faster

December 4, 2021
Quorums and Quorum Slices -The Blockchain Cafe

What Are Quorums and Quorum Slices?

December 4, 2021
OneCoin: the $4 billion Ponzi back in court

OneCoin: the $4 billion Ponzi back in court

0
The Blockchain Cafe

10 Things A Crypto Beginner Should Know

0
Binance Launches Training Program for Government Agencies

Binance Launches Training Program for Government Agencies

0
NFT games only scratch the surface of possibilities according to Animoca’s Yat Siu

NFT games only scratch the surface of possibilities according to Animoca’s Yat Siu

0
Altcoins: Is Binance Coin (BNB) in danger from SEC attack?

Altcoins: Is Binance Coin (BNB) in danger from SEC attack?

June 9, 2023
On the issue of Bitcoin (BTC) supply

On the issue of Bitcoin (BTC) supply

June 8, 2023
Bali wants to crack down on crypto-payments

Bali wants to crack down on crypto-payments

June 7, 2023
Binance under dark clouds

Binance under dark clouds

June 7, 2023
The Blockchain Cafe - Your Guide to Decentralized Finance and Cryptocurrency

© 2022 The Blockchain Cafe - Designed and Maintenance by The Blockchain Cafe.

Navigate Site

  • News Story
  • Blockchain
  • Cryptocurrency
  • NFT
  • Metaverse
  • DAO
  • Listicle

Follow Us

No Result
View All Result
  • News Story
  • Blockchain
  • Cryptocurrency
    • Exchanges
  • NFT
  • Metaverse
  • DAO
  • Listicle

© 2022 The Blockchain Cafe - Designed and Maintenance by The Blockchain Cafe.

Welcome Back!

Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version
x
x