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.
Not only that you will invest in multiple coins but in different investments as well like stocks, bonds, real estate and even in gold. That way, if you lose in crypto, you will experience such huge loss as you still have chances to make profits from your other investments. And yes, invest only on the amount you can manage to lose, although you can spend some of your life's savings but take only a portion of it and leave the rest for your other needs as well.