It says that cryptocurrency investors could lose their life savings ‘at any time’
if you go out and ask anybody they will tell you not to invest "all your live savings" in anything. so if some people choose to ignore the most obvious warnings then they deserve to lose it if you ask me! and it is not limited to bitcoin nor limited to cryptocurrencies. it is a general rule of any investment.
if you put all your money in a Stock, you still can lose all your money if that company is bankrupt.