A minute of silence for all Alliance Block investors...i have a brother who invested in this altcoin, hoping to hold till the next bull market, unfortunately the unexpected happened, now all the money is gone before he realized what's going on.
It's a costly lesson that everyone should learn. I believe most crypto investors/traders have passed the same situation as your friend's situation. Unfortunately, exploits are still happening to DeFi projects, and it seems that won't stop soon. Even big projects which reached high marketcap were vulnerable, like Luna, so every investor in a DeFi project is targeted.
What lesson could be learned from this?
If you are a altcoin investor, do not keep all your eggs in one basket, if you believe in an altcoin, make sure it's not the only one, in fact, the more coins you have in your portfolio the lesser the risk, because not all the coins will go bad or get hacked, if one out of 5 or 10 become successful, 6x to , 10x or more, you've made back your ROI and still have some gains.
I recommend dividing money proportionally between high marketcap and low marketcap coins or tokens when someone would like to invest, because the risk decreases as we go up in the marketcap ranking, especially if a project has been in the market for a long time without suffering any attack or exploit.
Also, I prefer projects from the Binance launch pad because binance don't just list any projects, 85% of all projects that used Binance launchpads are successful.
When Binance supports a project, it doesn't mean this project won't fail later. Luna was supported by Binance from the beginning. Binance was a partner of FTX too.