People Share 23 Horror Stories That Arose From Crypto Tanking

21) Biggest Crypto Heist

This Reddit user couldn’t catch a break. They were initially fooled when they thought their savings was doubling, only to watch it take a complete 180 and plummet. Not only did they lose their savings, but they had to take out two loans, both of which they couldn’t make back with crypto, because they didn’t have any money to put back into crypto. This is quite the horror story from crypto tanking.

“In late November 2017, right before the peak of the 2017-2018 bull run, I put my entire savings account into cryptocurrency. I watched as it almost doubled at first, but then… the crash hit…. I actually took out two loans, $20,000 each time, which I used to buy more on the way down throughout 2018, but it all kept dropping. Eventually my portfolio’s value was around 5% of the entire money I’d put into it, including loan money… The worst part? The crypto that I took out those loans to buy ended up going 100x from the bottom in the more recent crypto bull run this year.” via flameylamey