Taiwanese Ends His Life After Losing $2 Million Luna Investment

At approximately 2 a.m. on Tuesday (May 24), a member of the public reported that a man had fallen from a building on Shicheng Road in the Phase 7 redevelopment region of Taichung City.

A guy was discovered dead after he apparently took his own life by falling from his flat after losing a substantial amount of money due to the implosion of the cryptocurrency token Terra Luna.

NOWnews stated that Wu Nan, a resident in Taichung’s 7th redevelopment region, jumped off his high-rise, luxury residential complex. A security officer working late heard a loud commotion, hurried outside to check, and discovered a mortally wounded guy on the ground.

The police discovered that the guy had probably died after falling to the first floor when they arrived at the site. The early research revealed that Wu Nan occupied the 13th level.

According to the police report, Wu did not seem to have left a suicide note, and there were no signs of an incursion or fight.

After analyzing Wu’s phone, prosecutors discovered that he had lately lamented to his friends and family that the worth of the Luna tokens he had acquired had dropped by 99% in two days.

He stated that this saddened him and cost him a tremendous lot of money. Apparently, he invested $2 million in Luna tokens, but once the token’s value collapsed, he was left with just $1000 in his account. Nonetheless, authorities said that Wu’s financial transactions and the reason for his deadly accident have been under investigation.

There was a significant drop in the value of the TerraUSD (UST) algorithmic stablecoin on May 7, and the price plummeted to 35 cents on May 9. Three days later, the price of LUNA fell from $80 to only a few cents. Since the 9th of May, the Terra blockchain has been officially halted, and UST is no longer pegged to the US dollar. $40 billion in market value was lost when Terra’s tokens collapsed.