That is a massive loss, 40k is not a small amount of money even in developed nations, and what is worst of all is that he invested all his money with that scammer, who knows how long it took him to save that money only for everything to be lost so rapidly, so let that be a warning for everyone looking for an easy way to make money on the markets, such a thing does not exist, and even if it existed you can be sure the rich and powerful would have monopolized it already if it did.
Actually greed put the strip in aye of greedy person and he just thinking of profit. when ever we step up towards risky trade and investing all our fund we shouldn't just watch one side because it's possible that we might not get what we want. we always should keep some spare money ,in case of lose we could recover it and invest only some portion.
In new coins we first check with small funds and check wheather everything is ok or not. in my friend case if he starts with 100$ so today he did not regret. Same strategy should also be applied when Withdraw or deposit big amount because sometimes network or contract change cause big problem, i lost 1100$ in this way.