The current hot topic is Luna. It's very sad that a lot of investors bagger due to Luna drama. The more sad thing is some people committed to suicide. Even in my country, it has happened. I will say think kind of situation occurs due to not following two very basic crypto rules. I know everyone knows these rules, but want to share again and remind you what would happen if you don't follow these rules.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
It's pretty simple rules, I don't think here needs any detailed explanation at all. We should invest only what we can afford the loss. And shouldn't invest in one coin all of your savings. When you invest multiple coins that won't scam you at the same time. So follow the very basic crypto rules and don't commit suicide.
Simple rules and yet a great deal of people do not follow them, personally one of my rules when I was a newbie was to not invest in altcoins no matter what, I decided to concentrate on bitcoin and nothing else and this has brought me good results, only once you gain enough experience then you can choose to deal with altcoins, but newbies do not want to do this as they think it limits them and they are not satisfied with the profits that bitcoin can bring them anymore, then they invest in a coin like Luna and then suffer the horrible consequences of doing so.