There is a popular saying that invest only what you can afford to loose. Some people are making the mistake of investing all their life savings into crypto and other ventures. Some people even went as far as borrowing money or even using their properties as collaterals to borrow money so as to invest into crypto. This is a wrong idea and it might cost you a lot.
Every investment has its risks. So consider the the risk involved by taking each step at a time and do not jump in once.
Maybe they did considered and thought it was worth the risk? People have varying levels of risk tolerance after all. These are sort of people that if they win, it's really great but their failures are also very disastrous.